Vectura was formed in 1997 at the
University of Bath as a start-up pharmaceuticals business. In 1999 it acquired Co-ordinated Drug Development and the Centre for Drug Formulation Studies. The company moved from the university campus to a site at
Chippenham, Wiltshire in 2002. and then moved onto the full list of the LSE. In June 2016, Vectura completed a £441million merger with Skyepharma, a maker of devices such as
asthma inhalers; it was stated that the merged company would continue to be known as Vectura. The former Skyepharma manufacturing plant at
Lyon,
France, makes various oral products including tablets. After Vectura decided to concentrate on inhaled products, in June 2021 the company supported a buy-out of the site by its management, with finance from
Bpifrance. In July 2021, American tobacco company
Philip Morris International made an offer to buy Vectura for £1 billion.
The Carlyle Group, an American private equity firm, also submitted an offer which was £44m lower. The board subsequently accepted the offer from Philip Morris International and, in September, it confirmed that circa 75% of shareholders had supported the takeover. The takeover by Philip Morris was widely condemned. In September 2024, it was announced that the firm had agreed to be acquired by Molex Inc. in an all-cash deal valued at £150 million. Four months later, Molex Inc. reported having completed the transaction. ==Operations==