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Inhaler Manufacturer Board Approves Takeover By Tobacco Company

 
• By Barnaby Pickering

The board members of Vectura, a manufacturer of inhalers and inhaled drugs, have approved a $1.4bn takeover bid by Philip Morris International, the manufacturer of Marlboro cigarettes.

• Source: Alamy

In a move that has defied recommendations from health bodies, charities and doctors, the board of directors of tVectura Group have recommended shareholders accept Philip Morris International (PMI)’s 165 pence-per-share ($2.28 per-share) takeover offer for the company. 

Previously, Carlyle Investment Management, the US private equity firm, had made a 155 pence-per-share offer for Wiltshire, UK-based Vectura, which specializes in inhaled drug delivery devices like asthma inhalers....

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