Philip Morris is tweaking its inhalers for medical drugs, rather than recreational ones. Big Tobacco tech offers path to partial redemption, says dasha_reuters:
Philip Morris is tweaking its inhalers for medical drugs, rather than recreational ones. If non-nicotine sales hit their target, the unit could be worth $5 bln. That’s tiny against the Marlboro maker’s $156 bln price tag. As a genuine health benefit, the PR value may be greater.
Context NewsPhilip Morris International is looking at buying nicotine gum maker Fertin Pharma, Bloomberg reported on June 17, citing people with knowledge of the matter. The Danish firm is owned by private equity group EQT and could be worth around 600 million euros, including debt, the news agency said.
Philip Morris International aims for smoke-free products, such as its IQOS tobacco-heating stick, to account for more than half of its revenue by 2025. It also wants to build a non-nicotine business to administer drugs and plant extracts, generating revenue of $1 billion in 2025.
Source: REUTERS/Jaime SaldarriagaA man poses for a photograph while using a Philip Morris iQOS smoking device, in Bogota, Colombia November 14, 2017. Read more: ReutersBreakingviews »
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