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Tobacco Giant Philip Morris To Offload Vectura After Controversy Scuppered Relationships

UK-Based Inhalation Specialist Thwarted In ‘Scientific Engagement,’ CDMO Dealings

 
• By Dean Rudge

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.

Lungs
• Source: Shutterstock

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.

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