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Philip Morris International to Present at Chief Executives for Corporate Purpose (CECP) CEO Investor Forum 2023
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
conferences
Rhea-AI Summary
Philip Morris International Inc. (PM) CEO to hold presentation and Q&A session at CECP CEO Investor Forum 2023, highlighting the company's shift towards a smoke-free future and expansion into wellness and healthcare areas.
Positive
PMI is actively investing in developing smoke-free products, with smoke-free products accounting for approximately 36.2% of its total third-quarter 2023 net revenues, indicating a positive shift in the company's portfolio.
The acquisition of Swedish Match in November 2022 has positioned PMI as a global leader in smoke-free products, with approximately 19.7 million adults having already switched to IQOS and stopped smoking, showing promising market adoption.
Negative
None.
STAMFORD, CT--(BUSINESS WIRE)--
Regulatory News:
Philip Morris International Inc. (PMI) (NYSE: PM)’s Chief Executive Officer, Jacek Olczak will hold a presentation and Q&A session at the CECP CEO Investor Forum 2023 on Tuesday, November 14, 2023, at 11:00 a.m. ET.
The live video webcast will be available at www.pmi.com/2023CECP. The presentation slides will also be available at the same link.
The webcast may also be accessed on mobile devices by downloading PMI’s 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 working to deliver 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 more than USD 10.5 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 November 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 Platform 1 devices and consumables and Swedish Match’s General snus as Modified Risk Tobacco Products. As of September 30, 2023, PMI's smoke-free products were available for sale in 82 markets, and PMI estimates that approximately 19.7 million adults around the world had already switched to IQOS and stopped smoking. Smoke-free products accounted for approximately 36.2% of PMI’s total third-quarter 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
What is the purpose of Philip Morris International Inc.'s CEO presentation at the CECP CEO Investor Forum 2023?
The CEO presentation aims to highlight PMI's shift towards a smoke-free future and its expansion into wellness and healthcare areas.
What percentage of PMI's total third-quarter 2023 net revenues did smoke-free products account for?
Smoke-free products accounted for approximately 36.2% of PMI's total third-quarter 2023 net revenues, indicating a significant contribution to the company's revenue.
How many adults have switched to IQOS and stopped smoking as of September 30, 2023?
Approximately 19.7 million adults around the world had already switched to IQOS and stopped smoking as of September 30, 2023, showing promising market adoption of PMI's smoke-free products.
What was the impact of PMI's acquisition of Swedish Match in November 2022?
The acquisition of Swedish Match has positioned PMI as a global leader in smoke-free products, further strengthening its market position and product portfolio.
