Cigarette giant Philip Morris International has taken control of UK inhaler maker Vectura despite objections from health care charities.
The producer of Marlboro and Parliament cigarettes said in a statement on Thursday that it had secured nearly 75% of Vectura's shares, making it the majority shareholder. More than 45% of Vectura shareholders accepted the takeover offer, and Philip Morris international purchased 29% of the company's shares on the open market."We have reached an important milestone in our acquisition of Vectura," Jacek Olczak, CEO of Philip Morris International , said in a statement.
On Thursday, 35 charities, public health experts and clinicians sent a letter to UK health minister Jo Churchill asking the government to intervene."We think it clear that this deal is not in the public interest and that it creates perverse incentives for [Philip Morris International] to increase harm through smoking so they might then profit again through treating smoking related diseases," signatories including the British Lung Foundation and Cancer Research UK wrote in the letter.
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