The company's logo is seen near the Philip Morris Izhora factory outside Saint Petersburg, Russia April 9, 2022. REUTERS/REUTERS PHOTOGRAPHER Acquire Licensing RightsSept 19 (Reuters) - Marlboro maker Philip Morris International (PM.N) is considering selling a stake in Vectura, its biggest pharmaceutical unit, the Wall Street Journal reported on Tuesday. The tobacco company told the Journal that it was looking to bring on a partner to help operate and grow Vectura’s drug manufacturing outsourcing business, and could possibly sell a majority or a minority stake. A Philip Morris spokesperson said the company did not have any comment to provide on the WSJ story. It also acquired nicotine gum maker Fertin Pharma for over $800 million and respiratory drug development company OtiTopic in the same year.

Source: Wall Street Journal September 20, 2023 09:12 UTC