Hints and tips:
...Olczak admitted that a separate target to derive $1bn of annual revenues from healthcare and wellness products by 2025 was “questionable” due to clients of Vectura, which PMI bought in 2021, shunning the...
...Its key target in moving “beyond nicotine”, to generate $1bn in revenues from its wellness and healthcare division by 2025, is “questionable”, he admitted. Vectura’s figures aren’t disclosed....
...“It may come as a surprise to many of you,” he wrote, “that PMI is evolving into a broader healthcare and wellness company.” PMI is Marlboro cigarette-maker Philip Morris International....
...stock markets are dominated by “old economy” sectors such as commodities and financials, and — just as in Europe but unlike in the US — there are far fewer specialist funds in sectors such as tech and healthcare...
...PMI, which makes Marlboro cigarettes, outbid the US private equity firm Carlyle for control of Vectura, prompting complaints from healthcare charities that said Big Tobacco was an unsuitable owner of a healthcare...
...Frans van Houten, chief executive of Philips, has downplayed the litigation risks....
...plan to become a “healthcare and wellness company”....
...The private equity group has been stepping up its own attempts to buy European healthcare companies....
...There is a paradox in a tobacco giant moving into healthcare. Pharmaceuticals keep people alive. Cigarettes kill them....
...Tobacco groups have a horrible history, but the healthcare industry is hardly squeaky clean....
...But for PMI, capturing Vectura would be the biggest step yet in its efforts to forge a future as a “healthcare and wellness” company....
...In any case, healthcare groups aren’t queueing up to issue warnings about Carlyle....
...The New York-listed group, which has a market capitalisation of $155bn, characterised its offer for pharma business Vectura earlier this month as part of its “natural evolution into a broader healthcare...
...It is the way that we need to protect individuals and the public,” she said at the BofA Global Healthcare investor conference on Wednesday....
...Allies of Marion Gruber and Philip Krause said the two had been upset by the way in which the FDA’s role had been undermined over several months....
...His important client relationships include Spain’s CaixaBank, Iberdrola and Repsol, and Dutch companies such as Philips....
...Philip Morris International, which sells Marlboro cigarettes, wants to use its “capabilities in inhalation” to produce medical treatments — and sees acquiring Vectura as an important part of that plan....
...One event to look out for: we’ll be hosting a virtual session on M&A in the digital healthcare sector on Thursday at 3pm London time. Details here....
...In a world crippled by an epic healthcare crisis and without any real mergers and acquisitions, the most coveted mandates for Wall Street advisory firms are the ones being handed out by Uncle Sam....
...Mr Buffett, whose 54-year investment career has made him one of the richest men in the world, has previously hailed Amazon founder Jeff Bezos and last year Berkshire announced a joint healthcare venture...
...Philip Stephens' column this week has advice on how Europe should chart a course between US and Chinese views and versions of the internet. 2....
...He recruited Emma Walmsley, GSK’s consumer-healthcare head, as CEO. And strategy seems clearer than it has for years....
...Karren Brady has stepped down as chair of Taveta Investments, the holding company for Philip Green’s Arcadia empire, along with non-executive director Sharon Brown. More here....
...In July, the FT reported that Sir Philip Hampton, GSK chairman, was weighing a demerger, after coming under pressure from top-10 shareholders to split up the business....
...Philip Morris International's Iquos smoking device can harvest personal data about smoking habits. The company says it extracts the information only to repair malfunctions....
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