“The move to acquire Vectura while mocking Carlyle who was now holding the deal is part of a well-considered marketing action to position the brand on non-smoking products. Investing in devices that will make life better for those suffering from respiratory problems is certainly a winning move in terms of image “. So Danny Hewson, financial analyst of AJ Bell (SPA which provides online investment platforms and brokerage services), commented on the purchase by Philip Morris of the British company Vectura made official last Friday as pointed out by the Reuters news agency. Vectura manufactures inhaled approved medications and associated devices to treat respiratory diseases such as asthma, and counts Novartis AG (NOVN.S) and GlaxoSmithKline Plc (GSK.L) among its customers.
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There Philip Morris has thus decided to invest 1.44 billion dollars (1.05 pounds) to acquire Vectura and with it all its expertise and patents related to treatments for respiratory diseases and inhalation device technology. The US tobacco giant commented on this important purchase through an official note in which it expressed its intention to exploit Vectura’s experience in terms of inhalable formulations and design of devices aimed at producing a range of over-the-counter respiratory therapies and on prescription: “Vectura will operate as an independent unit and will be the backbone of its inhalation therapy unit.” This important acquisition is part of Philip Morris’ business plan which aims to generate more than 50% of its revenue from non-smoking and tobacco products by 2025. The goal is to achieve at least one billion non-generated nicotine revenue. An evolution towards “A larger health and wellness company”.
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The deal with Vectura is Philip Morris’ second acquisition in the past week, having bought the manufacturer of nicotine chewing gum Fertin Pharma for 5.1 billion Danish kroner (812 million dollars).