The Strategist

World's biggest tobacco company says the UK should ban cigarettes

07/26/2021 - 03:59

Executives at Philip Morris International, the world's largest tobacco company, said the UK should act on cigarettes as it does on petrol-powered cars - ban them in the next ten years. According to The Daily Telegraph, this was announced by CEO André Calantzopoulos and chairman Jacek Olzak.

Oleg Dubyna
Oleg Dubyna
At the same time, they praised the UK government's "progressive" approach to regulating the market for e-cigarettes and other tobacco warming devices such as Philip Morris' IQOS. The company plans to focus on tobacco heating systems, anti-smoking products, etc. in the future.

Philip Morris has long been committed to reducing its share of tobacco-smoking products. In recent years, the company has invested $8.1bn in this effort. 

In July alone it announced two deals that show movement in this direction, with the acquisition of Danish nicotine gum maker Fertin Pharma for $813m and UK medicinal inhaler maker Vectura for $1.4bn. Non-smoking products now account for 25% of Philip Morris' revenue and are expected to make up 50% by 2025.