Tobacco giant Philip Morris strikes €1.1bn deal for inhaler firm Vectura

Marlboro owner PMI has agreed a deal to buy UK inhaler business Vectura for £1bn (Gareth Fuller/PA)

Tobacco giant Philip Morris International (PMI) has agreed to buy British inhaler maker Vectura for £1bn (€1.16bn), as it expands into healthcare which treats conditions its cigarettes can help cause.

The Marlboro owner is offering 150p per share for the London-listed target, the companies said on Friday.