Philip Morris International is interested in acquiring Fertin Pharma, a manufacturer of nicotine chewing gum, according to the Financial Post.
Financial analysts said that Fertin could be valued at about €600 million ($713.5 million), including debt, in a sale. Fertin, which is the world’s biggest contract development and manufacturing organization for nicotine chewing gum, also helps produce tablets, gum and lozenges used for pain medication, vitamins, cough treatments and sleeping aids.
Fertin has more than 800 employees spread across research and manufacturing facilities in Canada, Denmark and India that produce three billion units a year, according to its website. PMI has been working to expand its nontobacco offerings amid an increasing focus on health around the world.