Kicking the habit, Philip Morris forges $1.5B deal to acquire Vectura in race to build a top inhaled-drug company
Philip Morris is switching focus from smoking to health in a big way. And today it’s trumpeting a move into inhaled therapeutics with a $1.5 billion deal — which includes a recent dividend payout — to acquire Vectura, along with the services of some 200 scientists working on building their new pipeline.
Investors are getting 150 pence a share.
The move comes after the UK-based Vectura moved past clinical setbacks and reorganized into a CDMO, nabbing top industry clients like Novartis to make their inhaled drugs.
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