Philip Morris faces key test with US heated tobacco push [Reuters]
British American Tobacco Industries, p.l.c. ADR (BTI)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
The world's biggest tobacco company by market value will launch its flagship heated tobacco device IQOS in the U.S. in the second quarter, developing the brand pretty much from scratch. IQOS is already the top selling heated tobacco device globally and is central to PMI's efforts to transform its image from a cigarette maker to a company driving the shift to healthier options. In the U.S., heated tobacco is currently almost non-existent in what is one of the largest markets globally for alternative nicotine products. PMI wants to get a 10% share of total U.S. cigarette and heated tobacco volumes within around five years of it launching the latest version of its device, not expected until at least 2025. To do this would mean switching some 2.8 million U.S. smokers to IQOS, based on a Reuters analysis of PMI numbers and Barclays forecasts. Rival British American Tobacco has it does not see huge potential for heated tobacco in the U.S. where vaping is dominant. Two analysts
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BTI
Sec Filings
- 5/15/24 - Form 6-K
- 5/14/24 - Form 6-K
- 5/13/24 - Form 6-K
- BTI's page on the SEC website