The Vectura takeover by Philip Morris International (PMI) has seen the two most senior Vectura executives sell shares worth more than GBP 6 million between them, reports The Times.

Stock market disclosures show that Will Downie, Vectura’s chief executive, and Paul Fry, its chief financial officer, sold Vectura shares worth GBP 6.1 million between them amid the hugely controversial takeover by PMI. According to The Times, the shares mostly related to incentive and bonus schemes and were sold late last month.
The GBP 1 billion takeover has sparked a backlash against Vectura, a developer of inhalers and medicines to combat smoking related conditions. Health bodies, clinicians and charities had tried to stop the takeover by appealing to Vectura’s shareholders and directors before the deal was completed, however their attempts were in vain. As of the end of September, PMI controls 96.8 per cent of the company shares and confirmed that Vectura has been delisted from the London stock market.
Jacek Olczak, the tobacco group's chief executive, said that Vectura is central to PMI's diversification to being a "healthcare and wellness company" and its plans to generate USD 1 billion from "beyond nicotine and tobacco" by 2025.