Philip Morris International takes control of asthma inhaler manufacturer Vectura

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Cigarette producer Marlboro and Parliament said Thursday in a statement that it had acquired nearly 75% of Vectura’s shares, making it the majority shareholder. More than 45% of Vectura’s shareholders accepted the takeover bid and Philip Morris International bought 29% of the company’s shares on the open market.

“We have reached an important milestone in our acquisition of Vectura,” said Jacek Olczak, CEO of Philip Morris International (PM), he said in a statement. “We are very excited about the critical role that Vectura will play in our Beyond Nicotine strategy.”
Taking control increases the tobacco company’s efforts to generate more than half of its net income from smoke-free products, such as e-cigarettes and respiratory drugs, within four years, compared to the current quarter. PMI currently sells cigarettes in more than 175 markets.
Vectura has manufactured 13 inhaled medicines for companies such as Novartis (NVS) i GlaxoSmithKline (GLAXF) to treat lung conditions such as asthma.

Critics said they would continue to fight the acquisition of one billion pounds ($ 1.4 billion). On Thursday, 35 charities, public health experts and clinicians sent a letter to UK Health Minister Jo Churchill asking for government intervention.

“We clearly believe that this agreement is not in the public interest and that it creates perverse incentives [Philip Morris International] to increase the harm caused by smoking, so that they can once again benefit from the treatment of smoking-related diseases, ”the signatories, including the British Lung Foundation and Cancer Research UK, wrote in the letter.

A pack of Marlboro cigarettes is sold in London.

Kjeld Hansen, president of the European Lung Foundation, said he was “very disappointed” to see the deal finalized.

“The possibility that someone may benefit from the sale of a product that harms the lungs and another that treats the lung disease it causes is more than worrisome. For someone living with a lung disease, the sale is devastating.” , Hansen said in a statement.

Philip Morris International was separated from Another (MO) in 2008. Altria owns Philip Morris USA, which sells cigarette brands such as Marlboro, Virginia Slims, Parliament and Merit in the United States.

– Hanna Ziady contributed to the reports.

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