PCRS urges Vectura to reject buyout by Philip Morris International (PMI)
Alongside BTS, ERS, ATS and many other healthcare groups PCRS has submitted a letter to Vectura Board Members urging them to reject the acquisition offer by tobacco products manufacturer Philip Morris International.
Vectura is a company that manufactures medications used in the treatment of chronic obstructive pulmonary disease (COPD), asthma and other respiratory illnesses. Indeed, Vectura currently makes the bulk of its £200 million in revenues from manufacturing pharmaceuticals that treat smoking-related diseases such as COPD. If PMI were to acquire Vectura, PMI could then profit from treating the very illnesses that its products cause. The letter further highlights that the deal would significantly harm the future prospects of the healthcare company, as it will deter top lung researchers and scientists unwilling to work for a tobacco company.