Philip Morris eyes growth from heated tobacco products

RECOGNISING the declining sales of its combustible cigarettes, Philip Morris International Inc (PMI), which makes Marlboro, L&M, Bond Street, Chesterfield and Sampoerna A, is ramping up its efforts to promote smoke-free alternatives. PMI, the world’s top tobacco company by market value, has come a long way towards creating a “smoke-free future” free of combustibles. It has invested more than US$10.7 billion since 2008 in research, product development and production capacity for its smoke-free alternatives. Its most notable heated tobacco product (HTP) is iQOS, which has helped put PMI in a good position to move away from conventional cigarettes.