Philip Morris to sell stake in pharma unit Vectura for $198 million

(Reuters) – Marlboro maker Philip Morris International’s unit Vectura Fertin Pharma said on Tuesday it would sell its subsidiary Vectura Group to Molex Asia Holdings for 150 million pounds ($198.09 million).

The deal also has potential deferred payments of up to 148 million pounds.

($1 = 0.7572 pounds)

(Reporting by Savyata Mishra in Bengaluru; Editing by Devika Syamnath)