Philip Morris: Marlboro owner sells UK inhaler firm over backlash

Published On Sep 17, 2024, 9:33 PM

Philip Morris International (PMI), the company behind Marlboro cigarettes, has sold its inhaler company, Vectura Group, for £150 million ($198 million) after purchasing it for over £1 billion three years ago. The sale is part of PMI's strategy to shift towards smoke-free products like vaping, amidst criticism of hypocrisy due to its ongoing cigarette sales. PMI's management has indicated a continued interest in the inhaler sector, despite health charities' skepticism about the company's commitment to reducing cigarette sales, which still constituted over 60% of their recent revenues.