Philip Morris Dumps Asthma Inhaler Company.

In a move that has sent shockwaves through the pharmaceutical industry, cigarette and tobacco giant Philip Morris International is selling Vectura, a British pharmaceutical firm renowned for its asthma inhalers. The sale, announced after years of controversy surrounding Philip Morris' acquisition of Vectura, has left many questioning the company's motives and the implications for public health.

Philip Morris claims that the asthma inhaler business was hampered by "unwarranted opposition" to its transformation from a tobacco company into a broader health company. However, health groups remain skeptical, pointing to the company's history of producing products linked to deadly diseases.

The buyer, Molex Asia Holdings Ltd., plans to operate the inhaler business as part of its Phillips Medisize unit, which specializes in drugs and medical devices. The deal includes a substantial upfront cash payment of 150 million pounds sterling, approximately $200 million, along with potential deferred payments of a similar amount. The transaction is expected to close by the end of 2024, subject to regulatory approval.

The sale comes just three months after the Royal Pharmaceutical Society's journal reported that the National Health Service (NHS) in England had spent over £433 million on inhalers linked to the tobacco industry since Philip Morris acquired Vectura. This revelation sparked outrage among health groups in the UK, many of whom had vehemently opposed the acquisition.

Critics argue that Philip Morris' involvement in the asthma inhaler market is inherently problematic, given its history of producing products that contribute to respiratory illnesses. They fear that the company's motives are driven by profit rather than public health, and that the sale to Molex will not address the underlying concerns.