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Philip Morris bought British asthma inhaler maker Vectura for £1.1bn three years ago
Philip Morris International (PMI) has agreed to sell a British maker of asthma inhalers after backlash over its acquisition of the company.
The tobacco giant, whose brands include Marlboro cigarettes, bought Vectura for £1.1bn three years ago as part of a plan to transform itself into a “health and wellbeing” group.
But the deal sparked anger that a tobacco group owns a company that cures the kinds of diseases caused by smoking.
The backlash included Vectura being excluded from a pharmaceutical conference shortly after the deal.
PMI has since taken a £520m impairment loss on the purchase and agreed a £150m sale to US conglomerate Molex.
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