Tag - Vectura

Directors step down after Vectura tobacco takeover

The two most senior directors who were in charge of Vectura, the respiratory drugs firm, at the time of its £1 billion takeover by Philip Morris International have stepped down. Will Downie and Paul Fry quit their respective roles as chief executive and chief financial officer following the completion of the deal with the maker...

After buying health company Vectura, tobacco giant Philip Morris will profit from treating the illnesses its products create

Cigarettes are the only legal consumer product that kill up to half of their users when consumed exactly as the manufacturer intended. The diseases they cause cost Australia’s health system A$136.9 billion a year. Philip Morris International (PMI) is one of the global leaders in the cigarette supply chain. But with steady declines in cigarette sales over the past 20 years, tobacco companies...

Ethical concerns as Big Tobacco hustles into health care

Philip Morris International is buying a successful British company making inhaled treatments for lung disease. Companies who made fortunes selling damaging and addictive cigarettes are making fresh moves into health care. Philip Morris International (PMI), the Swiss-American maker of Marlboro cigarettes, has bought two drug firms in the last month and on Thursday won support to...

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...