Phillip Morris Buys Stake in Vaccine Company

Source from:  Tobacco World 04/08/2011

Philip Morris International Inc., the producer of Marlboro cigarettes bought more than $9 million worth of shares in Medicago Inc., roughly half of the equity offering from the Canadian biotech company. Philip Morris said Tuesday that the offering gives it 9.86 percent of Medicago's issued and outstanding shares. Medicago uses tobacco leaves to make influenza vaccines for the pandemic and seasonal flu. Philip Morris bought 17.06 million Medicago shares through its subsidiary, Philip Morris Investments B.V. Medicago has Shares of Philip Morris rose 68 cents to $65.60 in early trading. Enditem