US tobacco giant Philip Morris International “wants you to think it’s a healthcare company now”, says Rich Duprey on The Motley Fool. In February, the Marlboro cigarette owner launched its “beyond nicotine” initiative, which plans to “generate over half of its total net revenue from smoke-free products by 2025”.
Now it has agreed to pay £1bn for British inhaler specialist Vectura. The group’s devices have been used to help bring “13 inhaled medicines to market”. Philip Morris says it is evolving into “a broader healthcare and wellness company”, but critics spy “a wolf in sheep’s clothing”.
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