The tobacco giant that makes Marlboro cigarettes has sold a UK inhaler company for a knock-down price due to what it calls an “unwarranted” backlash.

Philip Morris International (PMI) has offloaded Vectura Group for £150m ($198m) just three years after buying it in a deal worth more than £1bn.

PMI’s decision to buy Vectura, which makes inhalers to treat lung conditions such as asthma, was criticised as being hypocritical.