Philip Morris International to Present at 2024 Jefferies Virtual Reduced Risk Seminar

Rhea-AI Summary

Philip Morris International Inc. (PMI) will present at the 2024 Jefferies Virtual Reduced Risk Seminar on May 7, 2024, showcasing their commitment to a smoke-free future. The company has invested significantly in developing innovative smoke-free products, with a portfolio that includes cigarettes and other alternatives. PMI's smoke-free products are authorized by the FDA and are available in 84 markets worldwide. In 2022, PMI acquired Swedish Match, a leader in oral nicotine delivery, further solidifying their position in the smoke-free market. With a strong focus on scientific research and expansion into wellness and healthcare, PMI aims to enhance life through health experiences.

Positive

• PMI's commitment to a smoke-free future, investing over $12.5 billion in developing innovative smoke-free products.

• Acquisition of Swedish Match in 2022, enhancing PMI's position in the smoke-free market.

• FDA authorization of PMI's IQOS devices and Swedish Match's General snus as Modified Risk Tobacco Products.

Negative

• Reliance on a rapidly evolving regulatory landscape for the tobacco and nicotine industry.

• Competition in the smoke-free market from other companies and potential challenges in market penetration.

STAMFORD, CT--(BUSINESS WIRE)-- Regulatory News:

Philip Morris International Inc. (PMI) (NYSE: PM) will present at the 2024 Jefferies Virtual Reduced Risk Seminar on May 7, 2024.

“The Science of Smoke-Free Products & Nicotine” will be presented by Gizelle Baker, VP Global Scientific Engagement, at 09:00 a.m. ET. “Leading & Transforming Through Innovation in Smoke-Free Products” will be presented by Stefano Volpetti, President Smoke-Free Inhalable Products & Chief Consumer Officer, at 11:00 a.m. ET.

The webcast of the presentations will be available at www.pmi.com/2024jefferiesrrp. The slides and archived recordings will be available at the same link.

The webcast may also be accessed on mobile devices by downloading PMI’s free Investor Relations App at www.pmi.com/irapp.

Philip Morris International: Delivering a Smoke-Free Future

Philip Morris International (PMI) is a leading international tobacco company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products. Since 2008, PMI has invested over $12.5 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. In 2022, PMI acquired Swedish Match – a leader in oral nicotine delivery – creating a global smoke-free champion led by the companies’ IQOS and ZYN brands. The U.S. Food and Drug Administration has authorized versions of PMI’s IQOS devices and consumables and Swedish Match’s General snus as Modified Risk Tobacco Products. As of December 31, 2023, PMI's smoke-free products were available for sale in 84 markets, and PMI estimates that approximately 33 million adults around the world use PMI's smoke-free products. Smoke-free business accounted for approximately 37% of PMI’s total full-year 2023 net revenues. With a strong foundation and significant expertise in life sciences, PMI announced in February 2021 its ambition to expand into wellness and healthcare areas and, through its Vectura Fertin Pharma business, aims to enhance life through the delivery of seamless health experiences. For more information, please visit www.pmi.com and www.pmiscience.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240502120605/en/

Philip Morris International



Investor Relations:

Stamford, CT: +1 (203) 904 2410

Lausanne: +41 (0)58 242 4666

Email: InvestorRelations@pmi.com

Media: David Fraser

Lausanne: +41 (0)58 242 4500

Email: David.Fraser@pmi.com

Source: Philip Morris International

FAQ

What will Philip Morris International present at the 2024 Jefferies Virtual Reduced Risk Seminar?

Philip Morris International will present 'The Science of Smoke-Free Products & Nicotine' and 'Leading & Transforming Through Innovation in Smoke-Free Products'.

What percentage of PMI's total full-year 2023 net revenues did the smoke-free business account for?

The smoke-free business accounted for approximately 37% of PMI's total full-year 2023 net revenues.

How many markets were PMI's smoke-free products available for sale in as of December 31, 2023?

PMI's smoke-free products were available for sale in 84 markets as of December 31, 2023.

What is PMI's goal regarding the sale of cigarettes?

PMI aims to completely end the sale of cigarettes by offering innovative smoke-free products for smokers.

What new business areas does PMI aim to expand into?

PMI aims to expand into wellness and healthcare areas through its Vectura Fertin Pharma business to enhance life through health experiences.