TOBACCO GIANT TAKEOVER

US CIGARETTE firm Philip Morris International yesterday clinched a £1.0 billion takeover of British breathing inhaler manufacturer Vectura, despite opposition from health campaigners. The acquisition is part of the Marlboro-maker’s plans to expand beyond tobacco and nicotine. Since 2008, it has invested more than $8.0 billion in smoke-free products such as vaping, which it says is less harmful than smoking. But health groups say the takeover could lead to Vectura being excluded from clinical networks. |