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.
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 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.
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:
“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 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.
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.
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.
A new survey, funded by Philip Morris International’s U.S. affiliates (PMI U.S.), has found that 47% of U.S. healthcare practitioners—rising to 59% among medical professionals who indicate that half or more of their patients smoke cigarettes—mistakenly believe nicotine is a carcinogen, despite scientific consensus that the harms of smoking primarily stem not from nicotine but from the burning of tobacco. Another 19% are unsure. Practitioners surveyed generally agree that smoke-free products—such as nicotine pouches and other noncombustible alternatives— are addictive and not risk free but still pose less risk than cigarettes. However, the survey results also show that misconceptions about nicotine persist and are obstructing progress on tobacco harm reduction.
Povaddo LLC fielded the survey among 1,565 medical professionals, including physicians, nurses, and mental health practitioners, across the United States between March 10 and April 5, 2025. The survey results highlighted that:
Despite decades of research as part of tobacco control efforts, misconceptions about nicotine are pervasive among healthcare professionals and others. The survey findings demonstrate an urgent need for healthcare regulators to provide unbiased, scientifically substantiated information about nicotine and nicotine products to the healthcare community. Many clinicians report uncertainty about which products are FDA-authorized and point to a lack of up-to-date information as barriers to more frequent and informed patient guidance regarding authorized smoke-free products. This is critical at a time when an estimated 480,000 Americans die each year from smoking-related illnesses.
“Healthcare professionals are at the heart of patient care and need reliable, science-based information to help their patients make informed choices,” said Stacey Kennedy, CEO of PMI U.S. “These findings reinforce the urgent need for transparent, evidence-driven communication from the FDA and other health authorities about the full spectrum of tobacco and nicotine products. We encourage the agency to provide timely, scientifically validated guidance to healthcare practitioners on FDA-authorized smoke-free alternatives. Ensuring clinicians have access to accurate information is essential to help adults 21+ who smoke make better choices and improve public health.”
This need for clear, science-based information is especially urgent given the survey’s findings about persistent misconceptions within the medical community that may result in incomplete or inaccurate information being shared with patients.
“One of the most striking findings from this research is the prevalence of misinformation about nicotine—even among otherwise well-informed healthcare professionals,” said Matt Holman, vice president of U.S. scientific engagement and regulatory strategy at PMI U.S. and former director of the Office of Science at the FDA. “Addressing these misconceptions with robust, evidence-based communication from authorities like the FDA is crucial to helping providers guide their patients and support harm reduction.”
PMI has invested more than $14 billion globally in innovative smoke-free products and remains committed to giving adults 21+ access to FDA-authorized better alternatives.
Read the full findings of the Tobacco Harm Reduction: U.S. Medical Professionals Survey (2025) at https://www.pmi.com/us/medical-professionals-see-greater-role-for-FDA.
Access PMI’s science at www.pmiscience.com and fact sheet on nicotine here.
News 4-Fox 11 in Reno, Nevada, is reporting its investigation that found counterfeit Zyn products for sale at a local convenience store that looked identical to the legitimate brand. Last October, an employee of the station bought three cans of “Zyn,” which he said tasted different than usual. The cans were sent to McKinney Specialty Labs in Virginia for testing.
“They really are misbranded and illegally on the market,” Dr. Roxana Weil, chief regulatory science officer at McKinney, said. The tested product only contained 4.5mg of nicotine, contrary to the 6mg advertised, and additionally contained six methyl nicotine, an additive that should not have been in there. The lab only tested for nicotine, so it’s unclear what else could be in the counterfeit product.
Dr. Willie McKinney, CEO of McKinney, said, “It was a little bit of a surprise to see six methyl nicotine simply because it’s manufactured. It’s man-made.”
Representatives from Philip Morris International, the makers of Zyn, and the store owner believe the counterfeit products likely came from a distributor.
“Our findings are that these are produced from overseas,” said Brian Weinhaus, director for illicit trade at PMI. “They are not produced in the United States.”
The City of Baltimore filed a lawsuit against Philip Morris yesterday (May 7) in the city’s Circuit Court for violating Baltimore’s Consumer Protection Ordinance through deceptive marketing practices to “peddle Zyn oral nicotine pouches to minors.” The city said PMI used “Big Tobacco’s well-developed playbook” to deceptively market flavored Zyn nicotine pouch products and hook a new generation of nicotine users.”
“The purpose of creating a flavored tobacco product is clear — it is meant to capture children and adolescents,” the city’s complaint says.
The complaint cites recent research that nearly 2% of middle and high school students report using nicotine pouches, and a separate survey where more than two-thirds of underage respondents reported Zyn as their favorite brand of tobacco pouches.
In response, officials from PMI said, “Although we have not yet been served with the complaint and are not in a position to comment, we can assure you that the interests of PMI and its affiliates will be vigorously defended.”
This is not the first time the city has targeted nicotine-related products with a lawsuit alleging deceptive marketing. Baltimore sued Juul Labs Inc. in 2020, accusing the electronic cigarette maker of promoting to minors. In September, the city reached an $8 million settlement with the California-based company.