Philip Morris secures shares needed for acquisition of asthma drugmaker

Cigarettes moves along a machine during the assembly process at the Philip Morris International (PMI) Coltabaco SAS production facility in Medellin, Colombia, on June 2, 2017. Foto: Bloomberg photo by Nicolo Filippo Rosso

Philip Morris International Inc.'s contentious $1.4 billion acquisition of Vectura Group Plc is set to go ahead after the tobacco giant obtained control of most of the U.K. asthma drugmaker's shares.

Despite concerns raised from a range of health charities, Philip Morris has taken control of 74.8% of Vectura's shares and its offer is now unconditional, the company said in a statement Thursday...

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