Philip Morris To Acquire OtiTopic - Quick Facts

(RTTNews) - Philip Morris International Inc. (PM) announced its acquisition of OtiTopic, a U.S. respiratory drug development company. OtiTopic has a late-stage inhalable acetylsalicylic acid (ASA) treatment for acute myocardial infarction.

OtiTopic holds several key patents, differentiated intellectual property, and has confirmed a 505(b)2 pathway. With the acquisition of OtiTopic, Philip Morris looks forward to completing the planned ASPRIHALE registration program.

"The acquisition of OtiTopic is an exciting step in PMI's Beyond Nicotine ambitions," said Jacek Olczak, CEO, Philip Morris.

Philip Morris expects the impact of the acquisition on full-year 2021 adjusted diluted earnings per share to be immaterial.