Philip Morris completed the acquisition of OtiTopic.

Philip Morris, a Swiss-American multinational cigarette and tobacco manufacturing company, completed the acquisition of OtiTopic, a respiratory drug development company. Financial terms were not disclosed. "This transaction aligns well with OtiTopic’s goals of unlocking what we believe to be a significant opportunity in inhaled therapeutics science. We are entering this transaction to accelerate ASPRIHALE®’s FDA filing, with the goal of delivering innovative therapies for people with intermediate to high risk for myocardial infarction," Kambiz Yadidi, OtiTopic CEO.