This Tobacco Giant Wants You to Think It's a Healthcare Company Now
Philip Morris International (NYSE: PM) really wants consumers to believe it is serious about reducing the harm its cigarettes have caused. It announced that it's buying U.K.-based Vectura Group, a manufacturer of respiratory therapy and inhaled-drug delivery devices.
The global cigarette giant first declared the future to be "smoke-free." Then it launched its Beyond Nicotine initiative in February, planning to generate over half of its total net revenue from smoke-free products by 2025, and at least $1 billion from products "beyond nicotine."
Now Philip Morris has made its second acquisition this month, both focusing on oral delivery of nicotine-alternative products.
Source Fool.com
