Inhalation specialist Vectura is set to fall into the ownership of Molex’s pharma unit Phillips Medisize, for less than a third of the £1.1bn ($1.45bn) its current owner, the tobacco giant Philip Morris, paid for Vectura three years ago following backlash across the healthcare sector against the highly controversial deal.
Tobacco Giant Philip Morris To Offload Vectura After Controversy Scuppered Relationships
UK-Based Inhalation Specialist Thwarted In ‘Scientific Engagement,’ CDMO Dealings
Philip Morris described a scenario of being essentially blacklisted by the healthcare sector and its CDMO partners, as the tobacco manufacturer threw in the towel on its £1.1bn acquisition of UK-based inhalation specialist Vectura by agreeing to offload the firm at a fraction of the initial cost.
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