Philip Morris International announced it will hold a live audio webcast on Tuesday, October 21, at 9 a.m. ET to discuss its third-quarter and first nine-month results, which will be released at approximately 7 a.m. the same day. The webcast, hosted by CFO Emmanuel Babeau, will feature a review of financial results and a Q&A session with the investment community in listen-only mode. The webcast can be accessed here or via PMI’s Investor Relations App for mobile devices. Slides, script, and recording will be available for one year following the event.
Tag: pmi
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PM Japan Announces Two New Launches
Philip Morris Japan (PMJ) announced it will launch the IQOS ILUMA i Galaxy Blue Model on October 29, a limited-edition device inspired by the “mysteries and infinite possibilities of the universe.” The ¥6,980 ($46) model features a deep-space blue charger with a starry gradient design. PMJ’s marketing director, Daniel Sevsik, said the edition was created to reinforce IQOS ILUMA i’s image of “innovation and future possibilities.”
The company will also release its TEREA Clear Regular on October 27, a “smooth and balanced tobacco stick” for the IQOS ILUMA and ILUMA i series. Sevsik said the regular flavor segment has growth potential, as users tend to be more stable than menthol and flavored product consumers. The new variant becomes the sixth regular option in the TEREA lineup.
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Philip Morris Urges FDA TPSAC to Recommend Continued Modified-Risk Marketing of IQOS
Experts from Philip Morris International presented evidence to the Tobacco Products Scientific Advisory Committee (TPSAC), according to a PMI press release. The committee, comprised of independent scientific researchers, provides nonbinding recommendations to the U.S. Food and Drug Administration’s (FDA) Center for Tobacco Products (CTP).
The full-day meeting on October 7 was part of the FDA’s customary review of PMI’s request to continue marketing versions of its IQOS heated-tobacco products in the U.S. as modified-risk tobacco products (MRTPs), a necessary step while FDA completes its review of pending applications for IQOS ILUMA (a later version of the IQOS models that are currently authorized by the FDA) to reach and transition even more legal-age adults away from combustible cigarettes.
“The evidence presented at this meeting, as also noted by the FDA, further supports the agency’s original conclusions that led the FDA to authorize the IQOS system as a modified-risk tobacco product,” said Stacey Kennedy, PMI U.S.’ CEO. “We encourage the FDA to continue efforts to establish a timely scientific review process for smoke-free products—including for IQOS ILUMA, which has been pending FDA review for nearly two years and has globally shown even higher rates of legal-age adults fully switching from combustible cigarettes—that are a better choice for legal-age adults who would otherwise use traditional tobacco products, including combustible cigarettes.”
Initially granted by the FDA in 2020, the MRTP designation for the IQOS system authorizes PMI to communicate to legal-age consumers that: “AVAILABLE EVIDENCE TO DATE: The IQOS system heats tobacco but does not burn it. This significantly reduces the production of harmful and potentially harmful chemicals. Scientific studies have shown that switching completely from conventional cigarettes to the IQOS system significantly reduces your body’s exposure to harmful or potentially harmful chemicals.”
During the meeting, representatives from PMI and committee members discussed a range of scientific, technical, and consumer-communications topics. The company provided an overview of its responsible marketing practices and presented additional evidence and research demonstrating high levels of complete switching among current legal-age smokers while maintaining low levels of use by unintended populations.
Addressing committee members, Keagan Lenihan, VP and Chief External Affairs Officer for PMI U.S., said: “CTP’s mission is to make tobacco-related disease and death a part of America’s past. Smoke-free products, like PMI’s IQOS system, play a critical role in helping CTP achieve this mission and provide adults who smoke with a real opportunity to change. The IQOS system, when marketed with the reduced-exposure claim, promotes complete switching from combustible cigarettes.”
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PMI Head Calls for Partnership and Action at GTNF 2025
Erin Warren, Head of Regulatory and Public Policy at Philip Morris International (PMI US), delivered a powerful keynote at GTNF Brussels, urging urgent reform to accelerate tobacco harm reduction, opening with stark numbers.
“Cigarette smoking remains the leading cause of preventable death in the United States, taking more than 480,000 lives every year,” she said. “That’s 1,300 people every single day. Globally, the toll exceeds 8 million deaths annually.” She emphasized that behind these statistics are real people: “A mother, a father, a friend, a colleague—each hoping for better options but often finding barriers instead.”
Central to her message was the “continuum of risk.” Praising the FDA’s pilot program to expedite nicotine pouch applications, she said: “For the first time in a long time, the FDA explicitly acknowledged the continuum of risk. This is the difference between paralysis and progress. While nicotine is addictive, it is not the primary cause of smoking-related disease. Smoke is. Combustion is.
“Sweden’s long-standing availability of snus has driven smoking rates down to 5.3%, near the smoke-free benchmark. In contrast, Belgium’s ban on nicotine pouches removed regulated, safer alternatives but left the most dangerous products on the market. Smoking rates rose from 19% in 2017 to 21% in 2023.”
She also addressed widespread misconceptions among healthcare providers: “A recent survey found that 47% of U.S. doctors mistakenly believe nicotine is carcinogenic, and another 19% are unsure. This misinformation traps millions in a cycle of smoking.”
To move from paralysis to progress, Warren outlined five reforms: elevate public education, increase regulatory transparency, embrace innovation and harm reduction, clear the FDA backlog of nearly half a million stalled applications, and ensure independent oversight. “Regulatory delays create a vacuum filled by illicit products—undermining public health and consumer safety,” she said.
“Every delay, every unclear decision, every piece of misinformation prolongs the moment when someone might finally step away from cigarettes. When that mother switches, she not only improves her own health—she shows her children that positive change is possible.”
Closing with a call for partnership and action, Warren urged stakeholders to act decisively.
“We are not asking regulators to lower standards,” Warren said. “We are asking for standards that are clear, consistent, and anchored in science. The FDA pilot is a promising sign—but it’s just a signpost, not a destination. Let’s build a future where adults have better choices, doctors have better information, and public health has better outcomes.”
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Taxes Increasing Gap Between Regulatory Intentions and Market Realities
At the Global Tobacco and Nicotine Forum (GTNF) in Brussels, a panel moderated by Tim Phillips, Managing Director of Tamarind Intelligence, explored how taxation and tariffs are shaping the future of nicotine products in a rapidly evolving market. Speakers included Christa Pelsers (BAT), Stefano Santi (Philip Morris International), and Maria Angelova (Socotab Frana SA).
In “It’s All About Tax — The Complex World of Excise and Tariffs,” Phillips opened by stressing that “the next few years are going to be vitally important,” as novel products—from vapes to nicotine pouches—continue to disrupt markets. “We’re seeing massive problems around illicit trade and tax collection,” he said, noting that in some countries, “more than half of the market may already be illicit.” The result, he warned, is a growing gap between regulatory intentions and market realities.
Pelsers highlighted the speed of innovation and the challenges it creates for regulators. “For years, there was no innovation in tobacco, and now we have an explosion of new products—governments are still trying to catch up,” she said. Pelsers argued that taxation must be based on science, not politics, and criticized the European Commission’s fragmented approach: “The Commission is proposing that every member state can adjust its own rates. That makes things even more complex. We need harmonization to ensure fairness and functionality in the single market.”
She also warned of geopolitical shifts impacting trade. “With U.S. tariffs, China is redirecting exports elsewhere. The EU’s response has been slow. The next few years will reshape who we trust as trading partners,” she said. “And if tax rates are set too high, it will be detrimental to innovation.”
Santi emphasized that excise tax policy should not only collect revenue but also guide consumers toward less harmful products. “Ten years ago, my job was complexity five; now it’s fifty,” he said. “We need to balance taxation in a way that shifts the market without driving consumers to the black market.” He endorsed differentiated tax levels for different product types, saying, “If you raise taxes too fast, consumers will find cheaper, often illicit alternatives.”
Santi called for leveraging member state experience to modernize EU tax policy and harmonize definitions. “The directive is a good start, but it’s lagging behind. Treating all products the same is a recipe for failure. Europe needs to protect its economic and manufacturing footprint.”
Angelova added a perspective from the leaf tobacco sector, calling taxation “one of the quiet architects of humanity.” She warned that poorly designed taxes could devastate rural livelihoods. “Tobacco is an agricultural product that supports families. Nowhere else in the world is raw tobacco subject to excise tax,” she said. “Making local tobacco less affordable than imported tobacco doesn’t help anyone.”
Angelova stressed the importance of practical implementation: “It’s not just about what we tax—it’s about how. Details make the difference. Track and trace systems are vital to ensure transparency and prevent unfair competition.”
She concluded by urging policymakers to proceed with caution: “We’re trying to solve too many problems at once. We need to start addressing them one by one. Europe still has many families who rely on tobacco farming. Consumers won’t forget how we handle this.”
The panel collectively underscored that while excise and tariff reforms are inevitable, their success will depend on nuance, balance, and genuine collaboration with industry to avoid unintended economic and public health consequences.
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PMI Announces $37M Upgrade to Wilson, N.C. Facility
Philip Morris International’s U.S. businesses today (October 2) announced a $37 million investment in its Wilson, North Carolina, manufacturing facility to expand operations and strengthen its production of smoke-free alternatives. The Wilson factory currently produces HEETS for IQOS 3.0, the only heated tobacco product authorized by the FDA as a modified risk tobacco product (MRTP) with reduced exposure claims. The new investment will add a production line for TEREA, the consumables for IQOS ILUMA, which is awaiting FDA authorization.
“Our U.S. manufacturing footprint is critical to producing innovative smoke-free alternatives for adult consumers,” said Stacey Kennedy, CEO of PMI U.S. “We’re proud to increase our investment in Wilson and spur further economic growth in the area.”
Ryan Simons, President of the Wilson Chamber of Commerce, welcomed the expansion, calling it a sign that Wilson is a place where global companies “can grow and thrive.”
The Wilson facility employs more than 80 full-time staff and plays a key role in PMI U.S.’s strategy to replace cigarettes with smoke-free alternatives. The company has also announced major U.S. investments in Owensboro, Kentucky, and Aurora, Colorado, totaling more than $800 million and expected to create nearly 1,000 direct jobs.
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FDA Posts New Materials for IQOS Renewal Applications
The U.S. Food and Drug Administration announced today that its Tobacco Products Scientific Advisory Committee (TPSAC) will convene October 7, to evaluate the renewal applications of Philip Morris Products S.A. for its IQOS 2.4 and IQOS 3.0 heated-tobacco systems and associated HeatSticks. These devices were originally granted Modified Risk Tobacco Product (MRTP) orders in 2020 and 2022, allowing the marketing of reduced-exposure claims—specifically, that heating (not burning) tobacco significantly lowers exposure to harmful chemicals.
The renewal will hinge on whether PMI can demonstrate that post-market evidence continues to support those claims under section 911(g)(2) of the Food, Drug, and Cosmetic Act. The FDA has republished redacted application materials and opened a public comment period; speakers at the TPSAC meeting may submit data supporting or critiquing PMI’s dossier.
“A vital mission of FDA is to make tobacco-related disease and death a part of America’s past,” officials from PMI said in a statement. “Smoke-free products, like IQOS, play a critical role in helping achieve that mission and provide adults who smoke with a real opportunity to change. IQOS, when marketed with the reduced-exposure claim, promotes complete switching and reduction in cigarette consumption.”
Should the renewal be approved, PMI would retain authority to market IQOS with MRTP claims; if rejected, those claims could expire, undermining the company’s “reduced-exposure” positioning in the U.S. market.
The outcome will not only be of interest for PMI, but for the broader heated tobacco and smoke-free sectors looking for regulatory precedents.
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Global Survey Finds Strong Support for Smoke-Free Alternatives
A new international survey commissioned by Philip Morris International and conducted by Povaddo shows overwhelming global support for smoke-free alternatives to cigarettes, alongside growing public concern that tobacco policies are being shaped more by ideology than science.
The survey of 9,040 adults across nine countries found:
- 78% agree adult smokers should have access to smoke-free alternatives.
- 76% worry that public health decisions are influenced by ideology rather than evidence.
- 87% say governments should prioritize science in making public health policies.
- In countries where smoke-free products are restricted, such as Argentina, Brazil, and India, concern about bans was even higher (up to 94%).
- 80% believe public health organizations should share all available evidence on smoke-free alternatives.
- 77% of respondents outside Sweden think their country should emulate Sweden’s approach to smoke-free products.
“Countries embracing smoke-free products have seen declines in cigarette sales and smoking rates,” Philip Morris CEO Jacek Olczak said. “There is strong demand globally for fact-based policies that keep pace with innovation and deliver better outcomes for society.”
The survey was conducted between September 11–17, in Argentina, Brazil, Germany, India, Italy, Japan, Sweden, the U.K., and the U.S., among adults aged 21 and older.
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Report: Latvia Lost €67M to Illicit Cigarette Trade
Latvia lost an estimated €67 million to the illicit cigarette trade in 2024, a 31% increase over the previous year, as reported by KPMG at the National Forum on Smuggling. The study showed that contraband now accounts for 18% of total cigarette consumption in the country, with 340 million units consumed. Belarus remains the main source of smuggled cigarettes according to the report, supplying half of the illicit market, while counterfeit products surged 40% to 140 million units.
Philip Morris Latvia public affairs head Guntars Grīnvalds warned that simplistic excise tax hikes can exacerbate smuggling rather than increase revenue. He advocated for a differentiated taxation approach: higher duties on traditional cigarettes, but lower rates for less harmful alternatives to encourage switching among adult smokers. The findings underscore the need for balanced excise and regulatory policies, as well as stronger measures against counterfeiting and illegal production, to effectively combat the growing illicit market.
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PMI: EU Vape Research Should Be Independent
Philip Morris International (PMI) says it supports new research into the health impact of cigarette alternatives like vapes and heated tobacco, as long as it is carried out by an “independent and science-driven third-party Association.” The statement comes as the European Commission prepares to assess e-cigarettes and other nicotine products for the first time under its review of EU tobacco directives. Commission officials said future studies will be funded exclusively with EU funds in line with World Health Organization (WHO) guidelines.
PMI Europe president Massimo Andolina told Euractiv that the company would welcome such studies to validate its claims that next-generation products are less harmful than traditional cigarettes. But both the WHO and the EU stress that e-cigarettes and heated tobacco remain harmful and could act as a gateway to smoking. Several health and cancer organizations have also urged EU governments to tighten rules, warning that alternative products are fueling nicotine initiation among young people.
The debate comes as Brussels weighs higher taxes on both cigarettes and new products, while proposing that 15% of national tobacco tax revenues be diverted to the EU budget. EU Health Commissioner Olivér Várhelyi recently called vaping “enormously popular” among youth and a “significant health risk,” adding: “They do not pay taxes yet—and it is clear to me that they should do so.”