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Philip Morris International Inc. (PMI) Update on Its Medicago, Inc.. Holding


7/12/2013 9:45:51 AM

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NEW YORK--(BUSINESS WIRE)--Philip Morris International Inc. (NYSE / Euronext Paris: PM) announced today that Philip Morris Investments B.V. (PM Investments), an affiliate of PMI, entered into a Funding and Cooperation Agreement with Mitsubishi Tanabe Pharma Corporation (MTPC), a Japanese pharmaceutical company, to privatize Medicago Inc. (Medicago). If the proposed privatization is completed, the Canadian biopharmaceutical company will be de-listed from the Toronto Stock Exchange.

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