Amsterdam, the Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in respiratory care, today announced that it has signed an agreement with Aerogen Ltd, a privately owned respiratory drug delivery company headquartered in Galway, Ireland. 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). Drug delivery to the lungs is a critical part in treating these chronic diseases, and nebulizers are frequently the respiratory drug delivery devices of choice for both children and adults. 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.
This agreement is a key enabler in the development and marketing of respiratory drug delivery solutions to manage patients in the home, said
Brent Shafer, CEO Home Healthcare Solutions at Philips Healthcare. Inhalation therapy plays a key role in treating chronic respiratory problems and I believe that with Aerogen's technology we are further expanding on our promise to improve people's lives through meaningful innovation.''
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.
Please click on this link for Aerogen's press release on the agreement.
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Amsterdam, the Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in respiratory care, today announced that it has signed an agreement with Aerogen Ltd, a privately owned respiratory drug delivery company headquartered in Galway, Ireland. 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.
