• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Marlboro Maker Philip Morris Buys 22.61 Per Cent Stake In British Respiratory Drug Developer Vectura

August 21, 2021 by David Barret Leave a Comment

Tobacco group Philip Morris International has bought a 22.61 percent stake in British asthma inhaler firm Vectura. This is part of the deal to acquire the U.K.-based respiratory drug developer for USD 1.51 billion or 1.1 billion pounds. The purchase comes days after the tobacco group got unanimous backing from the asthma inhaler firm’s board for its 165 pence per share or USD 2.27 per share offer. Following it, the company entered a tendered period with Vectura. This comes as Philip Morris outbid private equity firm Carlyle in a fierce bidding war. Carlyle’s final offer was 155 pence per share. The tobacco giant said now it is planning to make further purchases.

Vectura’s board said that it went with Philip Morris International considering the superior cash price offered to its shareholders. The board also said that Vectura will be benefitted from the significant financial resources of Philip Morris. Commitment for better research and development is among the factors that the board considered while making the final decision. Philip Morris aims to use Vectura’s proficiency in device design and inhalable formulations to develop a range of respiratory therapies. The acquisition comes at a time when PMI is trying for its image makeover. This is following lawsuits and negative publicity for selling products that are harmful. Philip Morris has said that it is preparing for a ‘smoke-free’ future. This is when the major portion of the company’s revenues comes from cigarettes.

Commenting on the development, PMI CEO Jacek Olczak said that the deal is part of a long-term strategy to use our expertise. “We want to invest in a scientific field which will help the development of inhalers for a wide range of requirements. As we embark on the next stage of our journey, we are looking forward to working great people of Vectura,” Olczak said. Meanwhile, there are several who are not happy with the deal. At least 35 health charities and public health experts signed an open letter in which they urged Vectura to reject the acquisition offer of Philip Morris. They said that deal could have a negative impact on the research and production capacity of Ventura. It must be noted that PMI has been saying that it would stop selling cigarettes in the United Kingdom with a decade.

David Barret
David Barret

Related posts:

  1. The Federal Reserve: With the deterioration of the trade war, the US economy grew moderately
  2. Kraft Heinz Reportedly Selling Its Planters Brand To Hormel USD 3 Billion
  3. Boeing Says It Fired 65 Employees Since June For ‘Racist, Unacceptable’ Behaviour
  4. Grocery Delivery App Instacart Appoints Facebook’ Fidji Simo As CEO Ahead Of Expected IPO

Filed Under: Business

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • World’s Oldest Pots: 20,000-Year-Old Vessels May Have Been Used For Cooking Clams Or Brewing Beer
  • “The Body Is Slowly And Continuously Heated”: 14,000-Year-Old Smoked Mummies Are World’s Oldest
  • Pizza Slices, Polaroid Pictures, And Over 300 Hats: What’s Left Behind In Yellowstone’s Hydrothermal Areas?
  • The Mathematical Paradox That Lets You Create Something From Nothing
  • Ancient Asteroid Ripped Apart In Collision Had Flowing Water
  • Flying Foxes Include The World’s Biggest Bat And The Largest Mammal Capable Of True Flight
  • NASA Responds To Claims That Interstellar Object 3I/ATLAS Is An Advanced Alien Spacecraft
  • Millions Of Tons Of Gold Are In Earth’s Oceans, Potentially Worth Over $2 Quadrillion
  • The Race Back To The Moon: US Vs China, Will What Happens Next Change The Future?
  • NOAA Issues G3 Geomagnetic Storm Warning As 500,000 Kilometer Hole Sends Solar Wind At Earth
  • Lasting 776 Days, This Is The Longest Case Of COVID-19 Ever Recorded
  • Living Cement: The Microbes In Your Walls Could Power The Future
  • What Can Your Earwax Reveal About Your Health?
  • Ever Seen A Giraffe Use An Inhaler? Now You Can, And It’s Incredibly Wholesome
  • Martian Mudstone Has Features That Might Be Biosignatures, New Brain Implant Can Decode Your Internal Monologue, And Much More This Week
  • Crocodiles Weren’t All Blood-Thirsty Killers, Some Evolved To Be Plant-Eating Vegetarians
  • Stratospheric Warming Event May Be Unfolding In The Southern Polar Vortex, Shaking Up Global Weather Systems
  • 15 Years Ago, Bees In Brooklyn Appeared Red After Snacking Where They Shouldn’t
  • Carnian Pluvial Event: It Rained For 2 Million Years — And It Changed Planet Earth Forever
  • There’s Volcanic Unrest At The Campi Flegrei Caldera – Here’s What We Know
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version