August 8, 2021
Tobacco giant Philip Morris has raised its bid to buy respiratory drugmaker Vectura to more than £1bn.
Vectura makes inhaled medicines and devices to treat respiratory illnesses such as asthma, and counts Novartis and GSK among its customers.
The Marlboro cigarette maker increased its offer to £1.65 ($2.29) per share after US private equity firm Carlyle offered £958m ($1.3bn) on Friday.
Vectura has not yet responded to requests for comment on the new bid.