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Philip Morris to sell stake in pharma unit Vectura for $198 million
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Philip Morris to sell stake in pharma unit Vectura for $198 million
Sep 17, 2024 6:48 AM

(Reuters) - Marlboro maker Philip Morris International's ( PM ) unit Vectura Fertin Pharma said on Tuesday it would sell its subsidiary Vectura Group to Molex Asia Holdings for 150 million pounds ($198.09 million).

The deal also has potential deferred payments of up to 148 million pounds.

($1 = 0.7572 pounds)

(Reporting by Savyata Mishra in Bengaluru; Editing by Devika Syamnath)

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