Philip Morris buys respiratory drugs company Vectura for £1bn


Philip Morris, one of the world’s largest tobacco companies, is starting to diversify “as part of a natural evolution into a broader healthcare and wellness company”

Philip Morris International, one of the world’s largest tobacco companies and the owner of Marlboro cigarettes, has agreed to buy the FTSE 250 respiratory drugs company Vectura for £1 billion.

The cash offer, which has been recommended by Vectura’s board, values the company at 150p per share, a 10 per cent premium to the cash consideration of the offer from the private equity firm Carlyle that was agreed in May.

Read full article here.

Alex Ralph – The Times – 2021-07-09.

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