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Philip Morris International Inc. (PM) is a leading American multinational tobacco company that has built a global presence with its products being sold in over 180 countries. Known for its flagship product, Marlboro, Philip Morris International is a major player in the tobacco industry, often referred to as part of 'Big Tobacco'.
The company's portfolio is extensive, primarily consisting of traditional cigarettes but also embracing reduced-risk products. These include heat-not-burn devices, vapor products, and oral nicotine products, which are marketed in regions outside the United States. Recent strategic moves highlight their shift towards diversification. In 2022, Philip Morris International acquired Swedish Match, a prominent manufacturer of traditional oral tobacco products and nicotine pouches, boosting their presence in the US and Scandinavian markets.
In a bid to expand beyond nicotine-based products, Philip Morris International acquired Vectura in 2021. Vectura specializes in innovative inhaled drug delivery solutions, marking the company's foray into the healthcare sector.
Financially, Philip Morris International has demonstrated resilience and adaptability, managing to sustain growth through an evolving product lineup and strategic acquisitions. With a strong focus on innovation and a commitment to reducing the harmful effects of tobacco, the company is well-positioned to navigate the challenges of an industry in transition.
Philip Morris International's latest news can be found on their official website, providing current updates on their financial performance, new product launches, partnerships, and other significant developments.
Philip Morris International (PMI) has announced a new business transformation-linked financing framework to support its smoke-free initiatives. The framework aims to align PMI's financing strategy with its sustainability goals, reinforcing its commitment to phasing out cigarettes. Key Performance Indicators (KPIs) include increasing the smoke-free revenue percentage to over 50% by 2025 and expanding the number of markets for smoke-free products to 100. The framework has been validated by S&P Global Ratings, highlighting its ambitious and measurable targets for a smoke-free future.
Philip Morris International (PM) has launched IQOS ILUMA, a new tobacco-heating device that utilizes innovative induction-heating technology, marking a significant advancement in their smoke-free product portfolio. This launch follows PMI's commitment to replace cigarettes with better alternatives, with over 20 million global users of the IQOS system. IQOS ILUMA offers cleaner operation with no blades or cleaning required, and emits 95% lower levels of harmful chemicals. Available for pre-order in Japan from August 17, 2021, it represents PMI's ambition to expand its smoke-free product reach to 100 markets by 2025.
Philip Morris International (PMI) has published an offer document to acquire Vectura Group plc for 165 pence per share, representing a 60% premium over the last closing price. This acquisition aligns with PMI's strategy to transform into a smoke-free company and develop inhaled therapeutic products. PMI aims for $1 billion in annual revenues from Beyond Nicotine sources by 2025, having already invested $8.1 billion since 2008 in smoke-free innovations. The deal, valued around 15 times Vectura's 2020 EBITDA, is expected to close in the second half of 2021, pending shareholder acceptance and regulatory approvals.
Philip Morris International (PM) announced its acquisition of OtiTopic, a U.S. company specializing in respiratory drug development. This acquisition targets OtiTopic's late-stage inhalable acetylsalicylic acid (ASA) treatment for acute myocardial infarction, aimed at the 83 million Americans at risk. With plans to leverage its aerosolization expertise, PMI hopes to fast-track the ASPRIHALE® product to market, pending FDA approval. PMI expects the acquisition's impact on its 2021 adjusted diluted EPS to be immaterial, as it strengthens its Beyond Nicotine strategy in therapeutic innovations.
Philip Morris International (NYSE: PM) reported strong second-quarter results for 2021, achieving a diluted EPS of $1.39, an 11.2% year-over-year increase. Adjusted diluted EPS rose 21.7% to $1.57. Cigarette and heated tobacco shipment volumes increased by 6.1%, driven by a 30.2% rise in heated tobacco units. The company anticipates a full-year adjusted diluted EPS between $5.76 and $5.86 following adjustments for Saudi customs assessments and organizational costs. A new $7 billion share repurchase program was announced, and smoke-free products now contribute 29% to adjusted net revenues.
Philip Morris International (PM) will host a live audio webcast on July 20, 2021, at 9:00 a.m. ET to discuss its 2021 Second-Quarter results, which will be released at 7:00 a.m. ET. Emmanuel Babeau, Chief Financial Officer, will lead the discussion, during which questions from the investment community will be addressed. PMI does not intend to provide additional information on its offer to acquire Vectura Group plc beyond what was disclosed on July 9, 2021. The archived webcast will be available until 5:00 p.m. ET on August 18, 2021.
Philip Morris International (PMI) has reached an agreement to acquire Vectura Group for GBP 852 million (USD 1.2 billion), offering shareholders 150 pence per share—a 46% premium over the previous share price. This acquisition is part of PMI's "Beyond Nicotine" strategy, aiming to generate USD 1 billion in revenues by 2025 from inhaled therapeutics. PMI anticipates that combining Vectura's expertise with its own will enhance its capabilities in drug delivery. The deal is expected to close in the second half of 2021, pending shareholder and regulatory approvals.
Philip Morris International (PM) has announced its agreement to acquire Fertin Pharma A/S for an enterprise value of DKK 5.1 billion (approximately USD 820 million). This acquisition aims to enhance PMI's smoke-free portfolio and accelerate its efforts in beyond nicotine products. Fertin Pharma, specializing in oral and intra-oral delivery systems, generated net revenues of DKK 1.1 billion in 2020. PMI plans to complete the deal by Q4 2021, expecting its impact on full-year adjusted diluted EPS to be immaterial.
Philip Morris International (PM) is advocating for a united effort against illicit trade following a KPMG report that identifies a rising trend in the consumption of illegal cigarettes across 30 European countries. The report highlights that the share of illicit cigarettes increased to 7.8% in 2020, with counterfeit cigarette consumption skyrocketing by 87%. This situation results in an estimated tax loss of €8.5 billion for governments in the EU. PMI emphasizes the importance of collaboration among stakeholders to combat this issue, which undermines public health initiatives aimed at reducing smoking.
Philip Morris International (PMI) (NYSE:PM) announced its relocation of corporate headquarters from New York to Connecticut, expected to be operational by summer 2022. The move will create about 200 jobs in Connecticut, contributing to the local economy. PMI aims to accelerate its transformation towards a smoke-free future by utilizing technological advancements and expertise in life sciences. The company seeks to develop noncombustible alternatives and has achieved significant recognition for its sustainability efforts and gender equity.
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