Vectura has accepted Philip Morris' offer and urged shareholders to get behind it too. The London-listed company's shares rocketed 14 per cent, or 19p, to 154.6p on the news. Philip Morris' offer gazumped a £958million buyout that Vectura bosses had previously agreed with US private equity house Carlyle.
Vectura has withdrawn support for the Carlyle bid and scrapped a vote on the tie-up.
Based in Chippenham in Wiltshire, Vectura specialises in making inhalers and nebulisers. But it also helps top drug companies to convert their medicines into powders that can be inhaled. Its customers include Glaxosmithkline and Hikma Pharmaceuticals – and during the pandemic it has been working with Inspira Pharmaceuticals to develop a Covid vaccine.
At first I thought the article was agreeing with you, when it spoke of vultures, but that was only in relation to U.K. companies being bought out by overseas ones. I wonder if GSK products are now going to be branded Philip Morris 🤔
Talk about leaving a really bad taste in the mouth. It makes you wonder why the people who run / ran Vectura got into pharmaceuticals, if all they really wanted to do was promote cigarette smoking and the lung damage that causes.
Patients will just start to boycott Ventura, when they know the company sells cigarettes. Just as they did with Nestlè over their heavy-handed formula marketing strategies in the developing world. But the Ventura owners are only motivated by cash. And the Philip Morris owners are only motivated by cleaning up their brand.
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