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Tag: Philip Morris

  • CEO Breaks Down PMI’s Smoke-free Future for Investors

    CEO Breaks Down PMI’s Smoke-free Future for Investors

    Philip Morris International used its appearance at the Morgan Stanley Global Consumer & Retail Conference yesterday (December 2) to reinforce that its smoke-free transition is a structural, irreversible shift, not a cyclical phase. CEO Jacek Olczak framed the dynamic succinctly, noting that smokers who switch to alternatives “very rarely” return to combustible cigarettes and that “smoke-free is essentially a one-way street.”

    Immediately before the event, PMI issued a brief communication to stabilize expectations, reaffirming the company’s guidance from Q3.

    Olczak said that PMI’s three-platform system—IQOS, ZYN, and vapor—is the most effective way to replace combustibles across all usage occasions. “Our objective is to equip the smoker with all three platforms. This is the best way to keep them away from smoking,” he said.

    ZYN remains PMI’s central U.S. growth engine. Following a one-time $100 million activation after supply shortages, “brand equity parameters of ZYN shot up by double-digits,” with the product capturing more than half of category growth despite maintaining a premium price.

    Internationally, IQOS is in its 11th consecutive year of expansion. Japan is nearing a 50/50 split between combustibles and smoke-free products, and prior category pauses were, Olczak said, “just a blip on the graph.” Upcoming Japanese tax equalization and European flavor bans are viewed as temporary disruptions rather than structural threats.

    PMI is also restructuring around a U.S./International dual-engine model, retiring its traditional regional setup. “We don’t really run the business by regions anymore,” Olczak said, positioning the company for future IQOS ILUMA authorization in the United States.

    Capital demands remain modest, with Olczak stressing that “adding extra capacity is only a few hundred million dollars — not a disturbing factor.” Overall, his message to investors was clear: the smoke-free shift is a one-way trajectory, and PMI believes it now has the platforms, structure, and regulatory environment to accelerate it.

  • Malaysia to Study Effects of IQOS

    Malaysia to Study Effects of IQOS

    Malaysia’s Home Ministry recommended that the National Poison Center conduct a study on IQOS, Philip Morris’ heated tobacco product. Minister Datuk Seri Saifuddin Nasution Ismail said the health effects of the device are not yet known, but an initial study would help prepare the government for future legislation. Speaking at a seminar, he described the product as a “new innovation posing regulatory challenges.” He emphasized that laws on poisons and drug abuse must remain dynamic to address emerging substances.

    Saifuddin added that while the device’s marketing campaign advises non-smokers not to start and encourages smokers to quit or switch, the government must be proactive in assessing potential risks. He suggested that legal amendments could be drafted broadly to prevent loopholes.

  • PMI CEO to Present at Morgan Stanley Conference

    PMI CEO to Present at Morgan Stanley Conference

    Philip Morris International Inc. announced it will host a live webcast of a fireside chat session with CEO Jacek Olczak at the 2025 Morgan Stanley Global Consumer & Retail Conference on December 2, at approximately 10:15 a.m. ET. An archived copy of the webcast will be available for six months post-event. The webcast can be accessed here, or on mobile devices by downloading PMI’s free Investor Relations Mobile App at www.pmi.com/irapp.

  • FDA Schedules TPSAC Review of ZYN Applications

    FDA Schedules TPSAC Review of ZYN Applications

    The U.S. Food and Drug Administration announced a January 22, 2026, virtual meeting of the Tobacco Products Scientific Advisory Committee (TPSAC) to review modified risk tobacco product (MRTP) applications submitted by Swedish Match USA for 20 ZYN nicotine pouch products. These products—already authorized for sale through the PMTA pathway in January 2025—include flavors such as Cool Mint, Citrus, Coffee, Peppermint, and Wintergreen, each in 3 mg and 6 mg strengths. The company is seeking permission to market the pouches with the claim: “Using ZYN instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis.”

    Under federal law, MRTP applications must demonstrate that a product, as actually used by consumers, reduces individual health risks and benefits overall population health. TPSAC’s review will focus on scientific evidence regarding ZYN’s relative health risks, consumer comprehension of the proposed claim, and the potential public health impact of granting a modified risk order. The meeting will be held virtually, open to the public, captioned, and recorded.

    Public comments may be submitted to Docket No. FDA-2025-N-0835 through January 21, 2026, with comments received by January 7 provided directly to TPSAC. The FDA is also inviting individuals to request oral presentation slots during the meeting’s public comment period. Redacted MRTP application materials are available on the FDA’s website, and the agency will consider all public input and TPSAC recommendations before issuing a final decision.

  • PM Korea’s IQOS ‘Seletti Edition’ Sells Out in First Week

    PM Korea’s IQOS ‘Seletti Edition’ Sells Out in First Week

    Philip Morris Korea announced that its limited edition IQOS ILUMA i × Seletti collection, launched in collaboration with Italian design brand Seletti, sold out nationwide within a week. Pre-sales began October 28 for IQOS Club Platinum and Gold members, with the official release on October 30 through IQOS.com and directly operated stores. The edition, featuring black and gold designs with Seletti’s signature patterns, quickly became a collector’s item, with the Prime model selling out on the first day of pre-sale.

    Philip Morris Korea highlighted that the strong response reflects consumer appreciation for the brand’s design sensibility and value, not just sales performance. The success follows earlier limited editions like Minera, Neon, and Steve Aoki, underscoring IQOS’ ongoing strategy of blending style with technology to enhance consumer experience.

  • European Patent Office Sides with Nicoventures on Vape Dispute

    European Patent Office Sides with Nicoventures on Vape Dispute

    The European Patent Office’s Board of Appeal upheld British American Tobacco subsidiary Nicoventures Trading Ltd.’s vape patent EP3354144, rejecting a challenge by Philip Morris Products S.A., according to Law360. The board found that the patent’s method—activating a heater based on predetermined parameters independent of puff counts—was “inventive.” It also ruled that the patent’s description of vaporization without combustion and general thermal insulation was sufficiently supported by the original filing.

    Additionally, the board clarified that the term “predetermined period of use” referred to a fixed timeframe, not puff duration, distinguishing it from prior patents. All of Philip Morris’s objections were dismissed.

  • FDA Establishes Closing Date for Public Comments on MRTP Renewal Applications for IQOS Products

    FDA Establishes Closing Date for Public Comments on MRTP Renewal Applications for IQOS Products

    Today (November 6, 2025), FDA established the closing date for the public comment period on the modified risk tobacco product (MRTP) renewal applications submitted by Philip Morris Products S.A. for several IQOS heated tobacco products. Public comments on these applications must be submitted to the appropriate docket by 11:59 p.m. ET on December 8, 2025, to ensure they are considered by FDA:

    The application materials, redacted in accordance with applicable laws, can be found on FDA’s website. Before making a final determination on an MRTP application, FDA takes into consideration all relevant information available to the agency, including public comments and recommendations from the Tobacco Products Scientific Advisory Committee (TPSAC).

    FDA held a TPSAC meeting to discuss these renewal applications on October 7, 2025. The public was able to attend virtually and present comments to the committee. Materials from the meeting are available on FDA’s website.

    For the latest updates on any MRTP applications under scientific review, sign up to receive email alertsExternal Link Disclaimer. 

  • Massachusetts Weighs Philip Morris Punitive Damages Appeal

    Massachusetts Weighs Philip Morris Punitive Damages Appeal

    The Massachusetts Supreme Judicial Court is reviewing Armand Fontaine v. Philip Morris USA Inc. (Docket No. SJC-13778), a case that in 2022 produced one of the largest tobacco verdicts in state history after a Middlesex County jury awarded $8 million in compensatory damages and $1 billion in punitive damages. The trial court later reduced the punitive award to $56 million.

    Philip Morris appealed, saying the massive award showed the jury was “inflamed beyond reason,” that punitive damages should require a clear and convincing evidence standard or a separate (bifurcated) trial phase, and that guardrails should be enacted to prevent “nuclear verdicts” (awards of more than $10 million).

    Law360’s Chris Villani wrote that the “court appeared unreceptive to arguments” for imposing new procedural rules, noting existing safeguards such as judicial review and remittitur already limit excessive awards. A decision is expected to clarify how Massachusetts courts handle punitive damages going forward.

  • PMI to Restructure Organization in 2026

    PMI to Restructure Organization in 2026

    Philip Morris International Inc. (PMI) further detailed its new organizational structure aimed at accelerating its transition to a smoke-free company. The changes establish two primary business units, PMI International and PMI U.S., along with its wellness unit, Aspeya, which will all report to CEO Jacek Olczak. The current four geographic segments will be replaced with three reportable segments: International Smoke-Free, International Combustibles, and U.S., with financial reporting under the new structure starting Q1 2026.

    First announced with its third-quarter financials, the changes will become effective January 1, 2026. Frederic de Wilde will serve as CEO of PMI International, and Stacey Kennedy will continue as CEO of PMI U.S.

    The restructuring reflects PMI’s focus on expanding smoke-free alternatives—which now account for 41% of the company’s net revenues—while maintaining growth in its combustibles business and exploring wellness and healthcare opportunities.

  • PMI Targets Net-Zero Emissions by 2040

    PMI Targets Net-Zero Emissions by 2040

    Philip Morris International released its Climate Transition Plan 2025, presenting an updated and integrated strategy to achieve net-zero greenhouse gas emissions across its value chain by 2040. The plan includes near-term targets for 2030, such as a 50% reduction in direct emissions (scopes 1 and 2) and significant cuts in supply chain emissions (scope 3). PMI plans to achieve carbon neutrality for its direct operations by the end of 2025, using measures like renewable energy, energy efficiency, low-carbon fleets, and supplier engagement. The company emphasizes that sustainability and business growth can go hand-in-hand.

    “By focusing on material climate risks and opportunities, implementing cost-effective interventions, and maintaining robust disclosure practices, we are strengthening PMI’s ability to deliver sustained, long-term value,” said CEO Jacek Olczak.