Vectura, Philip Morris $1.45B Deal Under UK Government Scrutiny: Times

by Vandana Singh, Benzinga Editor

July 14, 2021 1:21 PM | 1 min read | Make a Comment

Britain's business minister has tasked the government with keeping tabs on Marlboro maker Philip Morris International Inc's PM proposed takeover of U.K-based inhalation-focused CDMO Vectura.
Business Minister Kwasi Kwarteng is working with officials to understand better Philip Morris' plans for Vectura, which develops therapies to treat some of the very lung diseases Philip Morris' products cause, The Times reported.
The government is reportedly uneasy about the crossover between Philip Morris' tobacco products and Vectura's respiratory repertoire, The Times said.
Vectura on Friday agreed to sell to Philip Morris for £1.05 billion ($1.45 billion).
Price Action: PM shares are up 1.7% at $99.42 during the market session on the last check Wednesday.