Marlboro owner sells UK inhaler firm over backlash [Yahoo! Finance]
Philip Morris International Inc (PM)
Last philip morris international inc earnings: 4/21 06:59 am
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Source: Yahoo! Finance
Philip Morris International (PMI) has offloaded Vectura Group for £150m ($198m) just three years after buying it in a deal worth more than £1bn. PMI's decision to buy Vectura, which makes inhalers to treat lung conditions such as asthma, was criticised as being hypocritical. However, PMI defended the move as part of its strategy to away from cigarettes and towards "smoke free" businesses like vaping. PMI announced the sale to electronics firm Molex Asia Holdings on Wednesday, saying it releases Vectura "from the unreasonable burden of external constraints and criticism related to our ownership". The deal, which still needs regulatory approval, will see Molex pay an up-front fee of £150m and "potential deferred payments of up to £148m" if certain requirements are met. PMI's boss Jacek Olczak also said the company remains "committed to driving innovation in this space over the long-term", suggesting it has not moved on entirely from the inhaler sector. The Vectura purchase
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PM
News
- Philip Morris International Inc. (NYSE: PM) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $126.00 to $140.00. They now have a "buy" rating on the stock.MarketBeat
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- Philip Morris plays defense against Tucker Carlson [Seeking Alpha]Seeking Alpha
- Billionaire Stanley Druckenmiller Just Added This Hot Dividend Growth Stock to His Portfolio [Yahoo! Finance]Yahoo! Finance
- Molex to acquire drug device company Vectura [Yahoo! Finance]Yahoo! Finance
PM
Earnings
- 7/23/24 - Beat
PM
Sec Filings
- 9/17/24 - Form 8-K
- 9/12/24 - Form 8-K
- 9/3/24 - Form 8-K
- PM's page on the SEC website