When the tobacco company Philip Morris International acquired the England-based Vectura Group (a pharmaceutical company that develops inhalation therapy to treat respiratory diseases) for US$1.2 billion on July 9, it was widely expected that problems and concerns would immediately follow. From here.
London Times It pointed out that the British Secretary of Commerce and anti-smoking organizations questioned why the company hopes to “develope therapies to treat some lung diseases caused by Philip Morris products.”
The leader of the Liberal Democratic Party, Sir Edward David, said that Philip Morris’s attempt to profit from diseases such as asthma and severe lung disease was “completely wrong”.
Appeared on wednesday CNBC “Turn off the bell,” Philip Morris CEO Jacek Olczak defended the company’s decision.
“We can continue to sell cigarettes in place, or we can use science and technology to do something, at least to significantly reduce the harm caused by smoking,” Olzac said. “I believe that what we are doing is absolutely correct…nothing and no one will stop us from changing our smoking habits.
Olczak’s comment was posted in Philip Morris Press release Regarding the acquisition, they stated that they are committed to science to help Vectura realize its long-term vision.
The company stated: “The inhalation therapy market is large and growing rapidly, with great potential to expand into new applications.” “PMI is committed to scientific and financial resources to empower Vectura’s skilled team to execute ambitious long-term visions. PMI and Vectura can Leading this global category together will bring benefits to patients, consumers, public health and society as a whole.”
For many years, Philip Morris has been seeking to reshape his image. The company announced plans to derive 50% of its revenue from smoke-free products by 2025, with the goal of earning $1 billion from its “Beyond Nicotine” campaign.
“We understand that a complete and successful transformation can transform our company’s business from a value proposition centered on harm reduction to a value proposition where we can have a positive impact on society,” Company website Talking about the “Beyond Nicotine” movement.
The World Health Organization warned that as Philip Morris International plans to acquire respiratory drug company Vectura, large tobacco companies are seeking to establish partnerships in the healthcare sector to undermine control of their “deadly products.”https://t.co/cX8ilpJl0M
— Alex Ralph (@alexralph) July 17, 2021
