Reported about 13 hours ago
Philip Morris International Inc. is contemplating a sale of its US cigar business as part of its transition towards smoke-free products, amidst declining smoking rates worldwide. The company is seeking over $1 billion for the business and is currently gauging buyer interest. With 40% of its sales now from smoke-free products, the firm aims to increase this to two-thirds by 2030, driven by products like IQOS and Zyn pouches. However, the transition has encountered challenges, including criticism for its healthcare ambitions in the UK.
Source: YAHOO