Tobacco company’s interest in asthma inhaler maker triggers rare quickfire auction
Health charities and anti-smoking campaigners have voiced concern at the prospect of the asthma inhaler maker Vectura succumbing to a £1bn bid from tobacco company Philip Morris International (PMI), as the improved offer triggered a rare quickfire auction.
Marlboro manufacturer PMI, which advocates a smoke-free future but makes about 75% of its revenue by selling cigarettes, submitted an improved offer over the weekend, outbidding the private equity group Carlyle.