Editing Philip Morris International
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====Healthcare investments==== | ====Healthcare investments==== | ||
Philip Morris International bought British pharmaceutical company Vectura for GBP 1 billion. Vectura is known for developing a pioneering inhaled treatment for Covid-19. The offer by Philip Morris International, which is investing billions to move away from its core tobacco business, trumped the £GBP 958m tabled by the private equity group Carlyle in May 2021. Vectura’s board had recommended that shareholders accept Carlyle’s offer but withdrew support for that bid after receiving the higher offer from Philip Morris International. <ref>[http://web.archive.org/save/https://www.theguardian.com/business/2021/jul/09/philip-morris-international-makes-1bn-offer-for-pharma-firm-vectura-covid-19 Philip Morris International makes £1bn offer for UK pharma firm Vectura], ''The Guardian'', 9 July 2021, Accessed 2 August 2021 </ref> The World Health Organisation has warned that companies like Philip Morris are seeking to establish partnerships in healthcare to undermine control of its “deadly products”. Subsequently, the British government has started into whether the takeover of Vectura by Philip Morris International raises public interest concerns. <ref>[http://web.archive.org/save/https://www.thetimes.co.uk/article/global-health-body-alarmed-by-vectura-bid-89733bgpr Global health body alarmed by Vectura bid], ''The Times'', 17 July 2021, Accessed 2 August 2021</ref> In September 2021, Vectura was excluded from a pharmaceutical conference after academics disagreed over the company’s GBP 1.1bn takeover by cigarette company Philip Morris International. <ref>[https://web.archive.org/save/https://todayheadline.co/inhaler-firm-vectura-removed-from-conference-over-philip-morris-takeover-philip-morris-international/ Inhaler firm Vectura removed from conference over Philip Morris takeover | Philip Morris International], Today Headline, 17 September 2021, Accessed 20 September 2021</ref> | Philip Morris International bought British pharmaceutical company Vectura for GBP 1 billion. Vectura is known for developing a pioneering inhaled treatment for Covid-19. The offer by Philip Morris International, which is investing billions to move away from its core tobacco business, trumped the £GBP 958m tabled by the private equity group Carlyle in May 2021. Vectura’s board had recommended that shareholders accept Carlyle’s offer but withdrew support for that bid after receiving the higher offer from Philip Morris International. <ref>[http://web.archive.org/save/https://www.theguardian.com/business/2021/jul/09/philip-morris-international-makes-1bn-offer-for-pharma-firm-vectura-covid-19 Philip Morris International makes £1bn offer for UK pharma firm Vectura], ''The Guardian'', 9 July 2021, Accessed 2 August 2021 </ref> The World Health Organisation has warned that companies like Philip Morris are seeking to establish partnerships in healthcare to undermine control of its “deadly products”. Subsequently, the British government has started into whether the takeover of Vectura by Philip Morris International raises public interest concerns. <ref>[http://web.archive.org/save/https://www.thetimes.co.uk/article/global-health-body-alarmed-by-vectura-bid-89733bgpr Global health body alarmed by Vectura bid], ''The Times'', 17 July 2021, Accessed 2 August 2021</ref> In September 2021, Vectura was excluded from a pharmaceutical conference after academics disagreed over the company’s GBP 1.1bn takeover by cigarette company Philip Morris International. <ref>[https://web.archive.org/save/https://todayheadline.co/inhaler-firm-vectura-removed-from-conference-over-philip-morris-takeover-philip-morris-international/ Inhaler firm Vectura removed from conference over Philip Morris takeover | Philip Morris International], Today Headline, 17 September 2021, Accessed 20 September 2021</ref> | ||
− | In July 2021, Philip Morris International announced it entered into an agreement to acquire Fertin Pharma, a leading developer and manufacturer of innovative pharmaceutical and well-being products based on oral and intra-oral delivery systems, for an enterprise value of DKK 5.1 billion (approximately USD 820 million). <ref>[http://web.archive.org/save/http://www.venturemagazine.me/2021/07/philip-morris-international-announces-agreement-to-acquire-fertin-pharma/ Philip Morris International Announces Agreement to Acquire Fertin Pharma], ''Venture Magazine'', 10 July 2021, Accessed 2 August 2021</ref> The acquisition has been widely condemned by international health organizations, including by the British Thoracic Society, the European Respiratory Society and the US COPD Foundation, as well as the American Lung Association and American Thoracic Society who referred to the move as ‘reprehensible’. <ref>Hopkinson NS, [https://web.archive.org/save/https://thorax.bmj.com/content/early/2021/12/23/thoraxjnl-2021-218328 Vectura and Philip Morris: the leopard has not changed its spots], Thorax, 23 December 2021, doi: 10.1136/thoraxjnl-2021-218328, Accessed 8 February 2022 </ref> | + | In July 2021, Philip Morris International announced it entered into an agreement to acquire Fertin Pharma, a leading developer and manufacturer of innovative pharmaceutical and well-being products based on oral and intra-oral delivery systems, for an enterprise value of DKK 5.1 billion (approximately USD 820 million). <ref>[http://web.archive.org/save/http://www.venturemagazine.me/2021/07/philip-morris-international-announces-agreement-to-acquire-fertin-pharma/ Philip Morris International Announces Agreement to Acquire Fertin Pharma], ''Venture Magazine'', 10 July 2021, Accessed 2 August 2021</ref> The acquisition has been widely condemned by international health organizations, including by the British Thoracic Society, the European Respiratory Society and the US COPD Foundation, as well as the American Lung Association and American Thoracic Society who referred to the move as ‘reprehensible’. <ref>Hopkinson NS, [https://web.archive.org/save/https://thorax.bmj.com/content/early/2021/12/23/thoraxjnl-2021-218328 Vectura and Philip Morris: the leopard has not changed its spots], Thorax, 23 December 2021, doi: 10.1136/thoraxjnl-2021-218328, Accessed 8 February 2022 </ref> |
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Philip Morris International acquired pharmaceutical company OtiTopic, which specializes in inhalation drugs. <ref> [https://web.archive.org/save/https://quote.rbc.ru/news/short_article/611100159a79472658c887b2 Philip Morris покупает фармкомпанию OtiTopic], ''RBC'', 16 August 2021, Accessed 20 September 2021 </ref> | Philip Morris International acquired pharmaceutical company OtiTopic, which specializes in inhalation drugs. <ref> [https://web.archive.org/save/https://quote.rbc.ru/news/short_article/611100159a79472658c887b2 Philip Morris покупает фармкомпанию OtiTopic], ''RBC'', 16 August 2021, Accessed 20 September 2021 </ref> |