Philip Morris (NYSE:PM) announced today that it agreed to acquire inhaled drug delivery technology developer Vectura for $1.2 billion.
New York-based Philip Morris agreed with the board of Vectura Group on the all-cash, recommended offer under which Vectura shareholders would be entitled to receive $2.07 per share (150 pence), representing a 46% premium to the ex-dividend closing price per Vectura share of $1.42 (103 pence) on May 25, 2021.
Get the full story at our sister site, Drug Delivery Business News.