Tag - Philip Morris International

Driving Addiction: Tobacco Sponsorship in Formula One

When will F1 catch up to other sports and ban tobacco sponsorship? In 2021, the tobacco industry is projected to spend an estimated $105 million on Formula 1 sponsorship. The staggering amount confirms a concerning trend: Tobacco industry spending in F1 has increased, reaching its highest levels since 2006—the year tobacco companies were supposed to be...

UK: Vectura shareholders urged to reject Philip Morris takeover

Health experts, medics and charities warn £1.1bn tobacco firm deal could cost inhaler maker access to government grants. Shareholders in the asthma inhaler maker Vectura have been urged to reject a £1.1bn takeover by the tobacco company Philip Morris International (PMI), in an open letter signed by 35 health charities, public health experts and doctors...

Tobacco giant Philip Morris raises bid for respiratory drugmaker

Tobacco giant Philip Morris has raised its bid to buy respiratory drugmaker Vectura to more than £1bn. Vectura makes inhaled medicines and devices to treat respiratory illnesses such as asthma, and counts Novartis and GSK among its customers. The Marlboro cigarette maker increased its offer to £1.65 ($2.29) per share after US private equity firm Carlyle...

Tobacco Stocks Drop as U.S. May Curb Nicotine in Cigarettes

Tobacco stocks plunged after a report said the U.S. government may only allow cigarettes with nicotine levels so low they’d no longer be addictive, and may also move to ban menthol. The U.S. Food and Drug Administration is expected to rule on menthol cigarettes by the end of the month under pressure from a deadline...

Dirty Money and Shady Spending: How the Tobacco Industry Gets Its Way

The tobacco industry isn’t shy about the mega-profits it rakes in year after year; major tobacco companies routinely and proudly boast their multi-billion-dollar-revenues to their stakeholders. But what they don’t like to advertise, at least not to the public, is how they got rich: by knowingly addicting people to their products and preying on...