Vectura Group plc is a drug formulation and delivery company , is focused on inhaled drugs that provide rapid onset of action, improved efficacy and improved tolerability.In July 2021, Philip Morris International Inc had agreed to acquire Vectura for an enterprise value of GBP 852 million.In May 2021, Vectura Group plc announced cash acquisition by Murano Bidco Limited and the withdrawal of the special dividend of 19 pence per Vectura ordinary share.In March 2016, SkyePharma reached merger agreement on the terms of recommended with Vectura under Part 26 of the Companies Act; later that month, Vectura received a letter of intent from River and Mercantile Asset Management in relation to 4,768,753 Skyepharma shares. In April 2016, the UK Listing Authority approved a combined Class 1 circular and prospectus in relation to the merger. Later that month, SkyePharma published the circular and prospectus issued by Vectura in relation to the approval of the merger