In wake of the takeover by Philip Morris International (PMI), the two most senior directors of respiratory drugs firm Vectura have stood down, reports The Times.

Chief executive Will Downie and chief financial officer Paul Fry have stepped down from their positions at Vectura following the completion of the GBP 1 billion takeover by PMI. Vectura was founded in 1997 and develops medicines and inhalers for smoking-related illnesses. Hence, the takeover by tobacco company PMI had sparked a huge backlash from public health experts, clinicians and charities. Vetura’s shareholders had been warned by public health bodies that a takeover by PMI could "significantly hamper Vectura's ability to continue operating as a viable, research-oriented business”, reports The Times. PMI responded by saying the takeover was part of its company’s diversification to a "healthcare and wellness company".
Speaking after Downie and Fry quit their positions, Jorge Insuasty, chief life sciences officer at Philip Morris, said, "Since joining Vectura, Will and Paul have developed Vectura into a leading inhaled therapeutic products company. The respect and esteem in which Vectura employees hold them is rightly high, and we thank Will and Paul for their leadership and stewardship of the company."