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Tag: Philip Morris

  • Georgia Judge Vacates FDA Graphic Cigarette Warning Rule

    Georgia Judge Vacates FDA Graphic Cigarette Warning Rule

    A federal judge in South Georgia struck down the U.S. Food and Drug Administration’s (FDA) rule requiring graphic health warnings on cigarette packs and ads, siding with Philip Morris USA and Georgia retailers, according to The Atlanta Journal-Constitution. U.S. District Judge Lisa Wood ruled that the FDA failed to disclose all raw data used in developing the 2020 rule, preventing stakeholders from offering meaningful feedback. While Wood rejected most of the plaintiffs’ arguments, she vacated the rule, citing a violation of the Administrative Procedures Act.

    The Georgia plaintiffs, including the Georgia Association of Convenience Stores, argued the rule would cost millions, force retailers to “speak against their own products,” and deter customers by making convenience stores unwelcoming. It said the FDA arbitrarily focused on certain smoking-related risks over others without explanation, and claimed it ignored countless red flags in its studies. The FDA defended its process, noting the warnings aimed to better inform consumers of smoking risks.

    The decision marks another setback in the FDA’s long-running effort to implement graphic warnings under the 2009 Family Smoking Prevention and Tobacco Control Act. A similar case is pending in Texas, where a judge has already blocked enforcement until appeals are resolved.

    The case is likely to head to the 11th Circuit Court of Appeals.

  • PMI Reaffirms 2025 EPS Outlook on IQOS, ZYN Momentum

    PMI Reaffirms 2025 EPS Outlook on IQOS, ZYN Momentum

    Philip Morris International reaffirmed its 2025 earnings forecast today (September 2) at the Barclays Global Consumer Staples Conference, projecting reported diluted EPS of $7.24–$7.37 and adjusted diluted EPS of $7.43–$7.56, representing 13–15% growth versus last year. PMI reported better-than-expected combustible volume recovery in Turkey and Egypt, alongside continued growth in IQOS, ZYN, and VEEV globally.

    “With strong volume momentum over the summer months, including IQOS and ZYN offtake, and despite increasing competition in smoke-free products, we are on track to deliver our full-year guidance of 13% to 15% adjusted diluted EPS growth in dollar terms, the strongest since 2011 excluding the pandemic recovery,” said Jacek Olczak, Chief Executive Officer.

    In the U.S., ZYN posted about 32% growth in the first eight weeks of Q3, prompting PMI to forecast shipment growth in line with offtake through year-end.

    An archived copy of the webcast is available at www.pmi.com/irapp.

  • PM South Africa Pushes Harm Reduction in Tobacco Bill Debate

    PM South Africa Pushes Harm Reduction in Tobacco Bill Debate

    Philip Morris South Africa (PMSA) urged lawmakers on Tuesday (August 26) to adopt a science-driven, harm reduction approach in the pending Tobacco Products and Electronic Delivery Systems Control Bill. PMSA argued that the same harm reduction principles that helped South Africa curb HIV/AIDS could accelerate declines in smoking rates if applied to tobacco. Executives told Parliament’s Health Committee that smoke-free alternatives like heated tobacco, e-cigarettes, and oral nicotine are far less harmful than combustible cigarettes, citing global studies and international precedents.

    “The quit or die approach has not been proven to be effective, and we know it will not work,” said Themba Mathebula, PMSA’s director of external affairs. “Without a doubt, smoke-free products can give smokers a fighting chance, not just to survive, but to quit smoking for good.”

    The company called for a risk-proportionate framework that regulates traditional cigarettes more strictly than reduced-risk products, while tightening youth access and banning marketing that could appeal to minors. PMSA said it has submitted extensive scientific data and is committed to making cigarettes obsolete.

    “It is about 19 books’ worth of research that undeniably shows that smoke-free products are less harmful alternatives for adult smokers who make the choice to continue smoking,” said Buhle Binta, PMSA head of Scientific Engagement. “Scientific evidence needs to be the North Star that informs our health policies.

  • PMI to Broadcast CEO’s Fireside Chat Live at Barclays

    PMI to Broadcast CEO’s Fireside Chat Live at Barclays

    Philip Morris International Inc. announced it will host a live webcast of a fireside chat session with Jacek Olczak, Chief Executive Officer, at the 2025 Barclays Global Consumer Staples Conference on September 2, at approximately 11:15 a.m. ET. An archived copy of the webcast will be available for six months post-event.

    The webcast may also be accessed on mobile devices by downloading PMI’s free Investor Relations Mobile App.

  • PMI Urges FDA to Educate Doctors on Harm-Reducing Alternatives

    PMI Urges FDA to Educate Doctors on Harm-Reducing Alternatives

    A new white paper from Philip Morris International U.S. (PMI U.S.) warns that many American healthcare providers misunderstand nicotine and tobacco harm reduction, limiting their ability to advise patients on safer alternatives to smoking.

    Survey results cited in the report show that half of medical professionals incorrectly believe nicotine causes cancer, while most are unaware which products are FDA-authorized for reduced harm. The paper stresses that the real health risks come from tobacco combustion, not nicotine itself, and switching to FDA-reviewed smoke-free products can significantly reduce harm for adults who continue to use nicotine.

    PMI U.S. calls on the FDA to actively educate providers, noting that 93% of surveyed doctors want guidance on lower-risk products and 95% would share it with patients. The report highlights that the U.S. is falling behind other countries in offering scientifically validated smoke-free options and emphasizes the need for science-based policy in tobacco harm reduction.

    The white paper is available here.

  • Philip Morris International Reports Record Q2 Earnings

    Philip Morris International Reports Record Q2 Earnings

    Philip Morris International Inc. reported record second-quarter results today (July 22) driven by strong growth in its smoke-free portfolio and resilient performance in combustibles. Net revenues reached an all-time high, with smoke-free products—including IQOS, ZYN, and VEEV—accounting for 41% of total sales. Shipments of smoke-free products rose 11.8%, while gross profit from the category jumped over 23%.

    CEO Jacek Olczak highlighted a “reacceleration” in IQOS and ZYN sales, especially in Europe, Japan, and the U.S., where ZYN’s offtake rose 36% in June. PMI’s e-vapor brand VEEV more than doubled shipment volumes, now leading in several European markets.

    Combustible products like Marlboro remained stable, contributing to a 2.1% revenue increase despite expected volume declines. PMI also declared a quarterly dividend of $1.35 per share. Buoyed by strong year-to-date performance, the company raised its full-year earnings guidance.

    Click here for the full financial report.

  • PMI US Launches “Invested in America” Campaign

    PMI US Launches “Invested in America” Campaign

    Philip Morris International U.S. (PMI U.S.) unveiled a new national campaign today (July 3), “Invested in America,” aimed at showcasing the company’s contributions to job creation, manufacturing growth, public health, and community development across the country. The campaign launched with full-page print ads and a digital rollout to follow, highlighting PMI U.S.’s strategic investment in America’s future and invites policymakers and the public to see the company as a partner in national progress.

    “Philip Morris International is invested in America’s future—and we have a proud story to tell,” said Stacey Kennedy, CEO of PMI U.S. “From building our advanced manufacturing facilities to contributing to progress within communities nationwide, the people of PMI U.S. are helping to write America’s next chapter.”

    The campaign centers on four key pillars:

    • Manufacturing Comeback: PMI U.S. plans to invest over $800 million in new and expanded smoke-free product facilities, generating high-paying, high-skilled jobs.
    • Advancing Public Health: The company aims to help the nation’s ~30 million adult smokers move away from cigarettes by offering FDA-authorized, smoke-free alternatives.
    • Strengthening Communities: Since 2022, PMI U.S. has donated $25 million to charitable causes and disaster recovery, including over $10 million in 2024 alone to 327 nonprofits in 35 states.
    • Purpose-Driven Performance: Backed by more than $14 billion in global investment in smoke-free innovation since 2008, PMI continues to drive both public health goals and business growth.

    “This campaign embodies our innovation and determination to reshape an entire industry and strengthen America,” Kennedy said. “In every state where we operate, we’re not just doing business—we’re creating opportunities that will define the America of tomorrow.”

  • Philip Morris Pushes for Arbitration in Washington MSA Dispute

    Philip Morris Pushes for Arbitration in Washington MSA Dispute

    Philip Morris USA (PM USA) urged a King County Superior Court judge in Washington State to compel arbitration in its dispute with R.J. Reynolds (RJR) and other tobacco companies. The conflict centers on longstanding disagreements over the annual Master Settlement Agreement (MSA) payments to the state.

    RJR and fellow plaintiffs claim PM USA aims to derail a separate 2025 settlement signed between RJR and Washington by attempting to enforce an arbitration clause dating back to a 2017 agreement. They argue PM USA is improperly interfering in a deal it is not directly part of.

    This week, in response, PM USA submitted a motion to compel arbitration, asserting that RJR and the other defendants are bound by the 2017 arbitration clause and that the court must defer to this private resolution mechanism. The outcome of this procedural motion could significantly influence the future of tobacco payment disputes under the MSA—either moving them out of public courtrooms or keeping them subject to private arbitration panels.

  • PMI Launches IQOS ILUMA i in Egypt

    PMI Launches IQOS ILUMA i in Egypt

    Philip Morris Misr launched the IQOS ILUMA i in Egypt, the “latest and most advanced smoke-free device in its portfolio,” according to the company. The device features the Smartcore Induction System, which heats tobacco without combustion, delivering a cleaner, residue-free experience. It includes smart features like a touchscreen, pause mode, FlexPuff, and improved battery technology.

    “We leverage science, world-leading brands, and commercial capabilities to provide better alternatives to our consumers,” said Ali Nevzat Karaman, managing director of Philip Morris Egypt and Levant. “Following the introduction of IQOS ILUMA in Egypt in 2023, we are now taking the IQOS experience to new heights. IQOS ILUMA i is our most innovative device to date—our flagship product in the portfolio of scientifically substantiated, heat-not-burn smoke-free systems.”

    The IQOS ILUMA i is compatible with existing TEREA sticks, avoiding the need for format changes. This launch supports Philip Morris International’s vision of a smoke-free future, backed by over $14 billion in R&D and a goal to eliminate cigarettes. Smoke-free products now make up 42% of PMI’s net revenues, with 38.6 million adult users worldwide as of December 2024.

  • PMI Execs Talk Financials

    PMI Execs Talk Financials

    Today (June 3), Philip Morris International presented at the 2025 dbAccess Global Consumer Conference, showcasing its strategic focus on smoke-free products amid a backdrop of both opportunities and challenges. The company reported strong growth in its smoke-free portfolio, while also managing a resilient combustible business through strategic price adjustments and cost management.

    PMI reported organic revenue growth between 6% and 8% and organic operating income growth of 10.5% to 12.5%. The company said it remains on course to have two-thirds of its revenue come from smoke-free products by 2030.

    PMI said its smoke-free product volume increased by more than 14%, and revenue from smoke-free products grew by over 20% organically. This category was led by its Zyn nicotine pouches, which saw over 50% growth in the U.S. during Q1 2025, and has plans for further expansion in Europe and other markets.

    IQOS experienced nearly 10% growth in Japan and over 7% in Europe despite regulatory challenges, with Veev holding the top position in five EU markets, focusing on profitable growth.

    Emmanuel Babeau, CFO of PMI, said the company plans to expand IQOS in the U.S. and enter new markets such as Turkey, Brazil, and India, and expects to reach a net debt to EBITDA ratio of 2x by the end of 2026.