Cigarette group takes control of asthma inhaler maker
Cigarette group takes control of asthma inhaler maker
By Charles Riley, CNN Business
https://www.cnn.com/2021/09/16/business/philip-morris-international-vectura/index.html
"SNIP.......
London (CNN Business)Cigarette giant Philip Morris International has taken control of UK inhaler maker Vectura despite objections from health care charities.
The producer of Marlboro and Parliament cigarettes said in a statement on Thursday that it had secured nearly 75% of Vectura's shares, making it the majority shareholder. More than 45% of Vectura shareholders accepted the takeover offer, and Philip Morris international purchased 29% of the company's shares on the open market.
"We have reached an important milestone in our acquisition of Vectura," Jacek Olczak, CEO of Philip Morris International (PM), said in a statement. "We are very excited about the critical role Vectura will play in our Beyond Nicotine strategy."
The takeover boosts the tobacco company's efforts to generate more than half of its net revenue from smoke-free products such as e-cigarettes and respiratory drugs within four years, up from about a quarter today. PMI currently sells cigarettes in more than 175 markets.
.......SNIP"
= new reply since forum marked as read
