The chief executive said the company can envision “the world without cigarettes … and actually, the sooner it happens, the better it is for everyone’, and has called on the UK government to ban cigarettes within a decade, alongside petrol cars. He added that the move would end the confusion regarding safer nicotine alternatives, which some smokers still believe are “worse than cigarettes.”
“Give them a choice of smoke-free alternatives … with the right regulation and information it can happen 10 years from now in some countries. You can solve the problem once and forever,” said the CEO as quoted by the Sunday Telegraph.
PMI transitions to non-tobacco products
Meanwhile, last Summer the tobacco company confirmed an agreement to acquire Fertin Pharma A/S (Fertin Pharma), a developer of intra-oral delivery systems. Media reports about the possible purchase started circulating in June. According to the Tobacco Reporter, Financial analysts from these reports said that the company (including its debt), could be valued at roughly $713.5 million.
A previous article by Vaping Post discussing the acquisition said that Fertin is the “world’s biggest contract development and manufacturing organization for nicotine chewing gum” and “also helps produce tablets, gum and lozenges used for pain medication, vitamins, cough treatments, and sleeping aids.”
Finally, PMI announced the acquisition for an enterprise value of DKK 5.1 billion (approximately USD 820 million1). This move supports the tobacco company’s goal of becoming a mostly smoke-free business by 2025, creating growth opportunities beyond tobacco.
On the other hand, another recent Vaping Post article revealed that health entities such as the American Lung Association and the American Thoracic Society are sceptical and concerned that the acquisition will undo years of work at Vectura Group.
“The announcement that Philip Morris International (PMI) wants to acquire an inhaled medicine company is the latest reprehensible choice from a company that has profited from addicting users to its deadly products,” said the groups in a joint statement. “We are deeply concerned that PMI will use the inhalation services technologies developed by Vectura to make their tobacco products more addictive. We are also deeply troubled that this company could further profit from the disease their products have caused by now selling therapies to the same people who were sickened by smoking PMI cigarettes.”