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  • 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.

  • 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.

  • PM to Pay Washington $66M Under MSA Deal

    PM to Pay Washington $66M Under MSA Deal

    The state of Washington said it expects to receive about $66 million from Philip Morris to settle long-running disputes tied to the 1998 Master Settlement Agreement (MSA). The payment represents the state’s decision to resolve the dispute rather than continue prolonged arbitration, freeing funds held in escrow and ending years of uncertainty. The settlement addresses a portion of the state’s claim under the MSA tied to adjustments and enforcement issues, specifically covering obligations through 2015; arbitration will continue for subsequent years.

    The new agreement follows a similar $277 million settlement in April 2025 with R.J. Reynolds and other tobacco manufacturers. Together, these settlements resolve years of arbitration over provisions requiring enforcement against companies that never joined the MSA. Washington has received roughly $3.8 billion in MSA payments since 1998.

  • 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.

  • PMI Gets Approval to Produce Nicotine Pouches in Bangladesh

    PMI Gets Approval to Produce Nicotine Pouches in Bangladesh

    Philip Morris received approval from the Bangladesh government to open a factory in Narayanganj to produce nicotine pouches. The project, granted by the Bangladesh Economic Zones Authority (Beza), involves an initial investment of $5.8 million with a planned annual production of 536.3 million units, with operations required to start within a year.

    The news sparked opposition from anti-tobacco campaigners who are calling for the revocation of the approval. However, Beza described the pouches as “anti-nicotine” products and noted there is no explicit ban on their production or export, despite a government import ban on e-cigarettes and other electronic nicotine delivery systems.

    Authorities are reviewing environmental and regulatory compliance, with Philip Morris Bangladesh seeking clearance from the Department of Environment.

  • Tobacco Stocks Stumble as ‘PMI Results Weigh on Sector’

    Tobacco Stocks Stumble as ‘PMI Results Weigh on Sector’

    Tobacco and nicotine stocks slipped yesterday (October 24) as shares of Philip Morris International fell following the company’s third-quarter results. While the company reported stronger-than-expected earnings and revenue, investors reacted negatively to a modest increase in full-year profit guidance and concerns over slowing growth in its smoke-free division. PMI shares dipped around 3–4% after the announcement, according to MSN’s Seeking Alpha.

    The sentiment rippled across the sector, pulling down other major players, according to Seeking Alpha. British American Tobacco traded about 2% lower, Turning Point Brands dropped nearly 4%, and Greenlane Holdings fell more than 5%. Altria Group also edged down around 1.5% ahead of its own quarterly earnings report, expected next week.

    Analysts at Morgan Stanley and BofA Securities maintained their “buy” ratings on Philip Morris, emphasizing its strong growth potential in reduced-risk products such as Zyn nicotine pouches. However, market watchers noted that investor expectations remain high even as the industry faces regulatory scrutiny and shifting consumer trends. The broader tobacco sector continues to balance solid cash flow and dividend stability against slower growth and rising public health pressures.

  • PMI Reports Strong Q3 Based on Smoke-Free Surge

    PMI Reports Strong Q3 Based on Smoke-Free Surge

    Today (October 21), Philip Morris International reported strong third-quarter 2025 results, with adjusted diluted earnings per share rising 17.3% to $2.24, while reported EPS increased 13.2% to $2.23. The company said it achieved record smoke-free gross profit, supported by higher volumes and favorable pricing. Net revenues grew 5.9% on an organic basis, and adjusted operating income rose 7.5%, driven by strong performance in smoke-free products, despite a 3.2% decline in cigarette volumes.

    PMI’s smoke-free portfolio continued to expand rapidly, now accounting for 41% of total net revenues and 42% of gross profit. Volumes of smoke-free products rose 16.6%, led by the IQOS heated tobacco line and ZYN nicotine pouches. IQOS strengthened its market share across Europe and Asia, while ZYN’s U.S. offtake surged 39% following its return to full availability. The e-vapor brand VEEV also posted a 91% jump in shipments, solidifying PMI’s diversified presence across smoke-free categories.

    Reflecting this momentum, PMI raised its full-year adjusted EPS guidance and boosted its quarterly dividend by 8.9% to $1.47 per share. CEO Jacek Olczak said the company’s smoke-free business “continues to outgrow the industry by a clear margin,” adding that PMI is “on track to exceed” its 2024–2026 growth targets. Despite regulatory challenges in some markets, the company remains focused on transitioning adult smokers toward smoke-free alternatives and expanding its portfolio in 100 markets worldwide.

  • PMI Launches VEEV in South Africa, Expands Smoke-Free Portfolio

    PMI Launches VEEV in South Africa, Expands Smoke-Free Portfolio

    Philip Morris South Africa (PMSA) launched its VEEV e-cigarette this week, completing the company’s trio of smoke-free products in the country alongside IQOS heated tobacco and ZYN nicotine pouches, according to BizCommunity. This makes South Africa one of just 20 countries globally offering all three categories, underscoring PMSA’s commitment to providing adult smokers with scientifically backed alternatives to combustible cigarettes.

    Jonathan Kwak, Director of Smoke-Free Products at PMSA, said the launch gives “adult smokers more options than before when considering scientifically substantiated alternatives to smoking” and is a critical step toward eliminating cigarette use. PMI says it has invested over $14 billion globally since 2008 in research and development of smoke-free products, which are now available in 97 markets and used by more than 41 million adult consumers worldwide.

    While emphasizing that quitting all tobacco and nicotine remains the best choice, Kwak said that switching entirely to smoke-free products can significantly reduce exposure to harmful chemicals produced by burning tobacco. “With our expanding offering, we aim to accelerate South Africa’s transition to a smoke-free future, aligning with harm-reduction principles already embraced in other public-health fields,” he said.

  • Philip Morris Italia Under Investigation for ‘Smoke-Free’ Language

    Philip Morris Italia Under Investigation for ‘Smoke-Free’ Language

    Italy’s competition authority launched an investigation into Philip Morris Italia for allegedly misleading advertising related to its “smoke-free” electronic cigarettes. The probe, announced today (October 15), centers on the company’s use of phrases such as “a smoke-free future” and “smoke-free products,” which regulators say could mislead consumers into believing the products are harmless.

    The Italian Competition Authority (AGCM), accompanied by financial police, searched two Philip Morris offices in Italy as part of the inquiry. The watchdog said that while these products do not involve combustion, they can still pose health risks and cause addiction.

    “Philip Morris Italia believes it has always acted in full compliance with applicable regulations,” a PMI spokesperson said regarding the proceedings initiated the AGCM. “The company is confident that its communication is factual, truthful, and fully consistent with both Italian and European legislation, which associate the absence of smoke with the absence of combustion. Italian Legislative Decree No. 6/2016, which transposes EU Directive 2014/40/EU, defines in Article 2, paragraph 5, a ‘smoke-free tobacco product’ (‘smokeless tobacco product’ in the English version of the directive) as ‘a tobacco product that does not involve a combustion process.’

    “The pursuit of a smoke-free future has been the primary global objective of Philip Morris International for nearly a decade—an ambition that the Italian affiliates have been working toward for years, alongside an integrated ‘Made in Italy’ value chain involving 44,000 people.

    “The company will continue to cooperate with the Authority throughout the proceedings to demonstrate the full legitimacy of its actions.”

    The move follows similar action in France earlier this year, where Philip Morris was fined €500,000 for promoting its IQOS heated tobacco device as safer under the classification of harm reduction.

  • PMI Responds to Italian Investigation of ‘Smoke-Free’ Language

    PMI Responds to Italian Investigation of ‘Smoke-Free’ Language

    Today (October 15), the Italian Competition Authority (AGCM), accompanied by financial police, searched two Philip Morris offices in Italy as part of the inquiry regarding the company’s use of phrases such as “a smoke-free future” and “smoke-free products” regarding its electronic cigarettes.

    In response, a PMI spokesperson told Tobacco Reporter:

    “With reference to the proceeding initiated yesterday by the Italian Competition Authority (AGCM) concerning the use of the term “smoke-free” in communications related to our corporate vision and our combustion-free products, Philip Morris Italia believes it has always acted in full compliance with applicable regulations. The Company is confident that its communication is factual, truthful, and fully consistent with both Italian and European legislation, which associate the absence of smoke with the absence of combustion. Italian Legislative Decree No. 6/2016, which transposes EU Directive 2014/40/EU, defines in Article 2, paragraph 5, a “smoke-free tobacco product”  (“smokeless tobacco product” in the English version of the Directive) as “a tobacco product that does not involve a combustion process”.

    “The pursuit of a smoke-free future has been the primary global objective of Philip Morris International for nearly a decade—an ambition that the Italian affiliates have been working toward for years, alongside an integrated Made in Italy value chain involving 44,000 people.

    “The Company will continue to cooperate with the Authority throughout the proceeding to demonstrate the full legitimacy of its actions.”