The companies, which said in August they would discuss a possible all-stock merger of equals , now say they will focus on jointly launching IQOS, a heated tobacco product, in the United States. The IQOS device heats tobacco to release flavorful nicotine-containing tobacco vapor but without burning the tobacco. Altria recently made investments that indicate plans to diversify beyond tobacco products.
It's also invested in Canadian pot company Cronos. An outbreak of a mysterious lung disease has hit the vaping industry. In a separate announcement Wednesday, embattled Juul said former Altria executive K. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Philip Morris International Inc. PM and Altria Group Inc. Now, they are talking about getting back together with sights set on dominating the rapidly-growing market for electronic cigarettes.
The two tobacco giants first broke apart in when Altria was spun off of Philip Morris. The move occurred due to pressure from U. Altria remained focused on the U. At the time the two companies bid farewell, cigarette sales were dwindling in the U.
But since , sales started to decline internationally. On an adjusted basis, industry-wide cigarette sales volumes fell by 4. But as traditional cigarette smoking has waned, a new, sleeker mode of inhaling tobacco has emerged—the e-cigarette. Both companies have adapted to the change in consumer tastes, diversifying their portfolios to include tobacco products fitting for a more technological age.
Already, the device has about 11 million users worldwide and has been introduced to 48 markets around the world. Earlier this year, iQOS was cleared for the U. But Altria also has made its own e-cigarette investments. One hang-up that could pose a problem is the agreement between Juul and Altria, which prevents Altria from owning or working with a competitor in the e-vapor business.
Registered shareholders outside the U. Holders of Altria shares through a broker, bank or other nominee will have their brokerage account electronically credited with PMI shares. For additional information, these holders should contact their financial institution directly or call D.
Swiss shareholders may order the Form 10 filed with the United States Securities and Exchange Commission, which includes the Information Statement, free of charge from Credit Suisse, Zurich phone 43 85, fax 23 88 or e-mail equity. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the developement and commercialization of Reduced-Risk Products RRPs. RRPs is the term PMI uses to refer to products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes.
Through multidisciplinary capabalities in product development, state-of-the-art facilities, and indusrty-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements.
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