 "Philip Morris")
Cigarette maker Philip Morris International agreed on Friday to buy Vectura for 1.05 billions pounds ($1.44 billion), giving the U.S. firm access to the British drugmaker's respiratory ailment treatments and inhaling device technology.
The deal, which topped a proposal by investment firm Carlyle Group, offers 150 pence a share to investors in Vectura, which makes 13 approved inhaled medicines and associated devices.
The offer by Philip Morris, which also makes a range of vaping products, is 11% higher than Vectura's closing price on Thursday and beats Carlyle's bid agreed in May of 136 pence.
Vectura, whose shares rose as much
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