Groups slam Philip Morris, but the Vectura deal has precedent

Six respiratory health societies have slammed the recent takeover by Philip Morris of the UK drug delivery biotech Vectura, but the move, seeking to prevent tobacco companies from benefiting from such acquisitions, comes somewhat late to the game. Friday’s joint statement bans employees of tobacco-owned companies from featuring data in journals or meetings run by the European Respiratory Society, American Thoracic Society, International Union Against Tuberculosis and Lung Diseases, Asian Pacific Society of Respirology, Asociación Latino Americana De Tórax, and Global Initiative for Asthma. No products of tobacco-owned companies will be promoted at the groups’ future scientific meetings or co-sponsored conferences. This mirrors a similar stance taken by the British Thoracic Society, which last month ran an editorial entitled “Vectura and Philip Morris: the leopard has not changed its spots”. This could discourage moves such as BAT setting up a biotech business, Kbio, to use a plants to develop treatments for rare and infectious diseases. However, tobacco companies like Japan Tobacco have a long history of investing in drug development. Philip Morris itself has held a stake in Medicago, a Canadian player seeking to enter Covid vaccine business, since 2008, and last year bought Fertin Pharma and Oti-Topic too.

This story has been amended to clarify detail in the table.