* Vectura withdraws support for Carlyle deal
* UK firm recommends Philip Morris offer
* Deal is second by Philip Morris in a week
* Shares jump nearly 13%
(Recasts, adds detail, background)
July 9 (Reuters) - Marlboro cigarettes maker Philip Morris
International agreed on Friday to buy British drugmaker
Vectura for 1.05 billions pounds ($1.44 billion) to
bolster its portfolio of products that are free from tobacco or
nicotine.
The deal, which topped a proposal by investment firm Carlyle
Group, means shareholders in the drugmaker that makes
about 13 inhaled medicines will get 150 pence per share in cash,
11% higher than its Thursday closing price.
Carlyle's offer, agreed in May, was 136 pence per share.
Vectura, whose shares rose nearly 13% to 152 pence at 0730
GMT, said it was withdrawing its recommendation for the Carlyle
offer in favour of the Philip Morris bid and was adjourning a
shareholder meeting it had convened on Monday.
Carlyle did not immediately respond to a request for
comment.
The deal is Philip Morris' second international acquisition
in the past week, after agreeing to buy nicotine gum maker
Fertin Pharma from private equity firm EQT for 5.1
billion Danish Krone ($812 million).
The cigarette maker unveiled its 'beyond nicotine' strategy
in February, as it expects more people to quit smoking in the
coming years amid health concerns and regulatory crackdowns.
The U.S.-based company has plans for Vectura to operate as
an independent unit at the centre of its inhaled therapeutics
business, seeking to use its expertise in inhalation and
aerosolization in areas such as respiratory drug delivery.
Philip Morris Chief Executive Jacek Olczak said the Vectura
acquisition after buying Fertin Pharma would help the U.S. firm
accelerate its 'beyond nicotine' strategy "by expanding our
capabilities in innovative inhaled and oral product
formulations."
The deal requires the approval of shareholders, among other
conditions.
($1 = 0.7264 pounds)
($1 = 6.2842 Danish crowns)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak
Dasgupta and Edmund Blair)
