Vectura, the pharmaceutical company bought by Philip Morris International, has seen a number of senior departures, reports The Times.

Michael Austwick, the chief executive of Vectura, the respiratory drugs company PMI acquired for GBP 1 billion in 2021, is stepping down after joining Vectura from Novartis last June.

This follows Thomas Gibbs, Vectura’s chief executive in the United States, who also left in 2023 after just over a year at the company and uncertainty over the future of Lizzie Knowles, Vectura’s CFO. Peter Halling, chief executive of another Phillip Morris acquired pharma business (Fertin Pharma) is also set to leave by the end of the year, the report said.

PMI’s acquisition of Vectura in 2021 sparked a backlash from the public health sector. The Wiltshire-based company develops inhalers and medicines, including for smoking-related conditions.

The acquisition was intended to be part of PMI’s entry into health and wellness; however, the company revealed a USD 680 million impairment charge in its health and wellbeing business, apparently due to unsuccessful clinical trials, reports ASH Daily News.

PMI said that it therefore no longer expects to reach more than USD 1 billion of net revenues for the wellness and healthcare business by 2025, which was a key target at the time of the Vectura deal.