Tobacco firm Philip Morris seals deal for UK's Vectura with 75% support

PMI chief executive Jacek Olczak

BENGALURU: Cigarette maker Philip Morris (PMI) has clinched the roughly 1-billion-pound takeover of inhaler maker Vectura after winning the backing of about 75% of shareholders in the British company, part of its expansion beyond tobacco.

Vectura shareholders had until Sept. 15 to decide whether to support the 165 pence-per-share bid from PMI, which sought to buy the London-listed asthma drug maker as part of its plan to go "smoke-free" and switch to healthcare and wellness products.