3M has announced the sale of “substantially all” of 3M Drug Delivery Systems to Altaris Capital Partners for approximately $650 million. 3M will keep a 17% interest in the new business, which is expected to employ approximately 900 of the current employees after the sale is completed.
3M’s inhalation products include standard MDIs, a nasal MDI, and the Intelligent Control Inhaler, and the company has three MDI manufacturing facilities in the US and one in Loughborough, UK. Other inhalation products include MDI canisters, valves, and dose counters. In 2013, Adamis acquired 3M’s Taper DPI.
In April 2019, the company officially opened a new R&D Inhalation Centre of Excellence in Loughborough that was expected to employ 120 people. Later that month, 3M announced that it was manufacturing an authorized generic of its Proventil HFA marketed by Par Pharmaceutical.
3M Chairman and CEO Michael Roman said, “The drug delivery business is a leading provider of transdermal and inhalation delivery technologies. This transaction will allow us to focus more resources on our core health care business as well as retain a share in the value of the drug delivery business as it grows over the coming years.”
Read the 3M press release.
