What Philip Morris International's Latest iQOS Update Means for Investors
Philip Morris International (NYSE: PM) is undergoing a radical shift away from cigarettes toward reduced-risk products, and its iQOS heated-tobacco system has enjoyed unparalleled success in key markets like Japan. The company strongly believes that it needs to demonstrate scientifically the potential benefits that iQOS and other reduced-risk offerings have compared to traditional tobacco products. Earlier this month, the company released its latest scientific update on its efforts on the reduced-risk front.
More than 300 scientists at Philip Morris are working on ways to reduce the harm from smoking. As Chief Scientific Officer Manuel Peitsch admits, many of those scientists were initially skeptical about the company's true commitment to finding solutions. Yet Philip Morris has adopted the philosophy that it needs to prove scientifically that less harmful products can exist in order to convince regulators that they can work together to achieve public health goals through reduced-risk products.
Image source: Philip Morris International.
Source: Fool.com