ROUNDHEAT TOBACCO SYSTEMMT Unlocks Affordable bladeless heating technology from the world’s #1 heated tobacco system1IQOS
LAUSANNE, Switzerland, November 22, 2022–(BUSINESS WIRE)–Philip Morris International Inc. (PMI) (NYSE:PM) today announced the launch of its latest combustionless tobacco heating system, BONDS by IQOS with its specially designed tobacco sticks, BLENDS. A new product from IQOSthe world’s #1 tobacco heating system2, BONDS by IQOS offers adults who would otherwise continue to smoke access to a compact, low-maintenance, hassle-free smokeless supply – validated by science – as a better alternative to cigarettes – to accelerate the realization of a smoke-free future smoke.
BONDS by IQOS heats tobacco instead of burning it and provides authentic tobacco taste satisfaction with no ash and less odor than cigarettes3thanks to an external resistive heating, without blade, via the ROUNDHEAT TOBACCO SYSTEMMT. When BONDS by IQOS heats the tobacco, it emits 95%4 fewer harmful chemicals than cigarettes5.
Like all smoke-free and nicotine-containing products from PMI, BONDS by IQOS is for adults who would otherwise continue to smoke or use other nicotine products and are looking for a better alternative to cigarettes.
“BONDS by IQOS represents another step forward in our ambition to replace cigarettes with innovative, science-based, smoke-free alternatives,” said Jacek Olczak, CEO of PMI. He goes on to say, “We know that no smokeless product will appeal to all adult smokers. Providing a range of alternatives to continued smoking – with a variety of options in taste, technology, use and price – is imperative and helps us meet a range of preferences as diverse as adult smokers themselves. themselves – ultimately encouraging them to quit smoking. BONDS by IQOS provides an opportunity to address barriers to consumer acquisition for this segment, including upfront device costs and authentic tobacco taste satisfaction, by providing further options of innovative smoke-free options to ensure that they do not return to cigarettes. Through continuous innovation, we want to ensure that all adult smokers who would otherwise continue to smoke, switch and quit smoking.”
PMI believes they will only achieve a smoke-free future if all adult smokers who do not completely quit tobacco and nicotine are aware of, have access to, and can afford to switch to better alternatives. By the end of 2021, PMI’s smoke-free products were available in 30 LMIC markets6— with the clearly stated ambition that at least 50% of the markets where it sells smoke-free products will be LMIC markets by 2025 — reinforced by new innovative products for consumers with low purchasing power.
PMI’s goal is that by 2025, at least 40 million adults who would otherwise continue to smoke will be switched to its smoke-free products and that by 2025, more than 50% of its total net revenue will come from smoke-free products. As of September 30, 2022, PMI estimates there were approximately 19.5 million in total IQOS users, excluding Russia and Ukraine, of which approximately 13.5 million have switched to IQOS and quit smoking, with the balance in various stages of conversionseven.
BONDS by IQOS is intended for use only with BLENDS tobacco sticks to offer a variety of tobacco tastes. At launch, BLENDS the tobacco sticks will be available in five different flavors, including classic, minty and aromatic. When fully charged BONDS by IQOS offers up to 20 uses, including three consecutive experiments. BONDS by IQOS comes in four different colors.
BONDS by IQOS is available in a pilot city launching in the Philippines from November 22, with additional marketing planned for the remainder of 2022 and into next year.
More information about PMI’s smokeless products can be found at https://www.iqos.com.
Important information: BONDS by IQOS is not without risk.
Philip Morris International: Delivering a smoke-free future
Philip Morris International (PMI) is a leading international tobacco company striving to deliver a smoke-free future and evolving its long-term portfolio to include products outside of the tobacco and nicotine industry. The Company’s current product portfolio consists primarily of cigarettes and smokeless products, including nicotine, vapor and oral products, which are sold in markets outside of the United States. Since 2008, PMI has invested more than $9 billion to develop, scientifically substantiate, and market innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of ending the sale of cigarettes altogether. This includes developing world-class scientific evaluation capabilities, including in the areas of preclinical systems toxicology, clinical and behavioral research, and post-marketing studies. The United States Food and Drug Administration (FDA) has cleared versions of PMI for sale IQOS Platform 1 Devices and Consumables as Modified Risk Tobacco Products (MRTPs), finding that an exposure modification order for these products is appropriate to promote public health. As of September 30, 2022, excluding Russia and Ukraine, PMI’s smoke-free products are available for sale in 70 markets, and PMI estimates that approximately 13.5 million adults worldwide are already passed to IQOS and quit smoking. With a solid foundation and significant expertise in the life sciences, in February 2021, PMI announced its ambition to expand into the areas of wellness and health and provide innovative products and solutions that aim to meet unmet needs of consumers and patients. For more information, please visit www.pmi.com and www.pmiscience.com.
Forward-Looking Statements and Cautions
This press release contains statements relating to future plans and circumstances, including statements regarding our planned strategies, programs, operations and objectives which are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 These statements can usually, but not always, be identified by the use of words such as “plans”, “intends”, “expects”, “believes” or similar expressions. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by such forward-looking statements due to numerous factors, many of which are beyond PMI’s control. These forward-looking statements speak only as of the date they are made, and PMI has no obligation (and assumes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise, except in accordance with applicable laws and regulations.
PMI’s business risks include: excise duty increases and discriminatory tax structures; increased marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers or prohibit certain of our products in certain markets or countries; health problems related to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; tobacco use and intellectual property litigation; intense competition; the effects of global and national economic, regulatory and political developments, natural disasters and conflicts; the impact and consequences of the Russian invasion of Ukraine; changes in adult smoking behavior; revenue losses due to counterfeiting, smuggling and cross-border shopping; government investigations; unfavorable exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate income tax laws; adverse changes in the cost, availability and quality of tobacco and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of its information systems and the effectiveness of its data privacy policies. PMI’s future profitability could also be adversely affected if it fails in its attempts to produce and market reduced-risk products or if regulations or taxation do not distinguish between such products and cigarettes; if it is unable to successfully introduce new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand portfolio internally or through acquisitions and the development of strategic business relationships; or if it is unable to attract and retain top global talent, including women or diverse candidates. Future results are also subject to the lower performance predictability of our reduced risk product category. PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI’s Annual Report on Form 10-K for the fourth quarter and fiscal year ended December 31, 2021, and Form 10-Q for the quarter ending September. 30, 2022. PMI cautions that the foregoing list of important factors does not constitute a complete analysis of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statements it may make from time to time, except in the normal course of its public disclosure obligation.
1 Global PMI estimate of total sales in the heated tobacco category market in units as of December 2021 (excluding China and the United States).
2 Global PMI estimate of total sales in the heated tobacco category market in units as of December 2021 (excluding China and the United States).
3 97% agreement among 345 adult consumers in the Philippines, 2022
4 Important information: This does not necessarily equate to a 95% reduction in risk. OBLIGATIONS by IQOS is not without risk.
5 “95% less” represents average reductions in levels of a range of harmful chemicals (excluding nicotine) compared to smoke from a reference cigarette. See important information on IQOS.com
6 Figure including Russia and Ukraine
seven Source: publication of Q3 2022 PMI results – October 2022
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Philip Morris International
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