Philip Morris has insisted that acquiring Vectura is part of its strategy to move away from tobacco products and become a 'health care and wellness' business.A British company that makes inhalers to treat asthma and chronic lung disease has been caught up in a controversial takeover battle featuring an unlikely suitor: tobacco giant Philip Morris International.
It’s now up to Vectura’s shareholders to decide which bid to accept. But a public backlash against Philip Morris has been building, and there are calls for the British government to prevent the company from acquiring Vectura, which has 510 employees, including roughly 200 research scientists. “The ERS and other medical institutions have strict rules against the involvement of individuals and companies that are linked to the tobacco industry,” the ERS said. A takeover by Philip Morris “is also likely to be financially detrimental to Vectura as health professionals will avoid prescribing drugs from any company that enriches the tobacco industry due to the ethical implications.”
Last month Philip Morris bought Danish-based Fertin Pharma, which specializes in nicotine gum, for US$820-million. It also has a stake in Canadian biotechnology firm Medicago Inc., which is developing a COVID-19 vaccine.
$ 12 a pack to keep killing youself and $ 180 to keep breathing, sick fucks!!!
As they should…
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