Philip Morris To Buy UK’s Vectura In ‘Beyond Nicotine’ Push

Marlboro cigarettes maker Philip Morris International agreed on Friday to buy British drugmaker Vectura for £1.05 billions ($1.44 billion) to bolster its portfolio of products that are free from tobacco or nicotine.

The cigarette maker unveiled its ‘beyond nicotine’ strategy in February, as it expects more people to quit smoking in the coming years amid health concerns and regulatory crackdowns.

The US-based company has plans for Vectura to operate as an independent unit at the centre of its inhaled therapeutics business, seeking to use its expertise in inhalation and aerosolisation in areas such as respiratory drug delivery.

ESM