CNBC September 20, 2023
Key Points
– Tobacco giant Philip Morris International is considering selling off a stake in its largest pharmaceuticals unit.
– The company has been making inroads into the wellness and health-care space in recent years as it pivots toward becoming a business focused on smoke-free products and respiratory medicines.
– More recently, the division has struggled, and Philip Morris has had talks with Deutsche Bank on a range of options to try to grow its wellness and health-care division.
Philip Morris International is considering selling off a stake in its largest pharmaceuticals unit.
The tobacco company, which makes Marlboro cigarettes, made inroads into the health care and wellness space in 2021 with the acquisition of Vectura, a U.K.-based pharmaceutical company...
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