News

Philip Morris says cigarettes may start disappearing in a decade

Philip Morris says cigarettes may start disappearing in a decade
Business
Philip Morris International Inc. signalled that cigarettes may start becoming obsolete within a decade in some markets as smokers switch to alternative products for nicotine.

“I am convinced it is possible to completely end cigarette sales in many countries within 10 to 15 years,” chief executive officer Andre Calantzopoulos said in a sustainability report published Tuesday. He said the help of regulators is needed to make that possible.

The maker of Marlboro and Chesterfield cigarettes has been saying it sees a “smoke-free future,” and now has started giving a concrete timeline. Philip Morris has a lead in smoking alternatives with its IQOS heated-tobacco device, though competitors such as Juul have been nipping at its heels. The company gets almost a fifth of its revenue from noncombustible products.

While the company insists its smoking alternatives are less harmful than cigarettes, some health groups have expressed concern that heat-not-burn products expose consumers to other toxins and argue long-term effects are not yet known. The U.S. Food and Drug Administration approved IQOS for sale in the U.S. last year, though stopped short of ruling whether it can be marketed as less risky than cigarettes.

The company set a target three years ago that at least 40 million adult smokers will have stopped smoking and switched to its smoke-free products by 2025. Philip Morris estimates nearly 14 million consumers were IQOS users at the end of 2019, with almost 10 million having quit cigarettes. There are some 1.3 billion tobacco users globally, according to the World Health Organization.

Michael R. Bloomberg, founder and majority owner of Bloomberg parent Bloomberg LP, has campaigned and given money in support of a U.S. ban on flavoured e-cigarettes and tobacco.
Read more on Toronto Star
News Topics :
Similar Articles :
Business
Bloomberg — Philip Morris International Inc. and Altria Group Inc.’s potential remarriage has public health groups concerned about one behemoth dominating the most popular products used to get a nicotine fix....
Business
The nation s dominant tobacco company, maker of the top selling Marlboro cigarette, is trying to become the next e cigarette giant. And Atlanta is ground zero in the high stakes experiment. Altria...
Business
ATLANTA — The dominant tobacco company in the U.S., maker of the top selling Marlboro cigarette, is trying to become the next e cigarette giant. And Atlanta is ground zero in the...
World
Cigarette maker Philip Morris International Inc has suspended a global social media marketing campaign in response to Reuters inquiries into the company’s use of young online personalities to sell its...
Top Stories
As health conscious smokers flock to cigarette alternatives such as e cigarettes, the company behind Marlboro is trying to lasso consumers and reel them in with a new product that heats, but...