AMSTERDAM--Dutch electronics company Royal Philips NV (PHG) said
Tuesday it has signed an agreement with Aerogen Ltd, a privately
owned respiratory drug delivery company headquartered in Galway,
Ireland.
MAIN FACTS
- The agreement includes a technology license and the
acquisition of select assets solely related to Aerogen's home-care
business. This will strengthen the innovation capabilities and
product portfolio of Philips' respiratory drug delivery activities
within its Home Healthcare Solutions business.
- The financial details of the transaction were not
disclosed.
- It is estimated that hundreds of millions of people worldwide
suffer from respiratory diseases such as asthma and chronic
obstructive pulmonary disease (COPD).
- With this agreement, Philips will expand its range of
home-care nebulizers and will gain access to Aerogen's technology,
an important component of advanced nebulizers for fast and precise
drug delivery.
- Both companies are committed to a seamless transition of
Aerogen's home-care nebulizer product range and customer base to
Philips.
- Aerogen's acute-care and home ventilator drug delivery
business is unaffected by the transaction and no employees will
transfer to Philips as part of the agreement.
- By Amsterdam Bureau, Dow Jones Newswires;
amsterdam@dowjones.com
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