ROUNDHEAT TOBACCO SYSTEMTM Unlocks
Affordable, Bladeless-Heating Technology from the World’s No. 1
Heated Tobacco System1, IQOS
Philip Morris International Inc. (PMI) (NYSE: PM) today
announced the launch of its latest heat-not-burn tobacco heating
system, BONDS by IQOS with its accompanying specially designed
tobacco sticks, BLENDS. A new product from IQOS, the world’s No. 1
tobacco heating system2, BONDS by IQOS offers adults who would
otherwise continue to smoke access to a compact, low maintenance
and hassle-free to use smoke-free offer—validated by science—as a
better alternative to cigarettes—to accelerate the achievement of a
smoke-free future.
BONDS by IQOS heats tobacco instead of burning it and delivers
authentic tobacco taste satisfaction without ash and less smell
than cigarettes3, thanks to resistive external heating, with no
blade, via the ROUNDHEAT TOBACCO SYSTEMTM. When BONDS by IQOS heats
the tobacco, it emits 95%4 less harmful chemicals compared to
cigarettes5.
Like all PMI’s smoke-free, nicotine containing products, BONDS
by IQOS is intended for adults who would otherwise continue smoking
or using other nicotine products, and who 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,” says Jacek Olczak, Chief Executive Officer at PMI.
He continues to say, “We know that no single smoke-free product
will appeal to all adult smokers. Providing a range of alternatives
to continued smoking—with a variety of taste, technology, usage,
and price options—is imperative and helps us to address a range of
preferences as diverse as adult smokers themselves—ultimately
encouraging them to leave cigarettes behind. BONDS by IQOS provides
an opportunity to address consumer acquisition barriers for this
segment, most notably up-front device costs and authentic tobacco
taste satisfaction—providing further options of innovative
smoke-free options to help ensure they do not go back to
cigarettes. Through continuous innovation, we want to ensure that
all adult smokers who would otherwise continue smoking, switch and
abandon cigarettes.”
PMI believes that they will only achieve a smoke-free future if
all adult smokers who do not quit tobacco and nicotine altogether
are aware, have access to, and can afford to switch to better
alternatives. As of the end of 2021, PMI’s smoke-free products were
available in 30 LMIC markets6—with the ambition clearly stated for
at least 50% of the markets where it commercializes smoke-free
products to be LMIC markets by 2025—bolstered by new innovative
products for consumers with lower purchasing power.
PMI’s goal is that by 2025 at least 40 million adults who would
otherwise continue to smoke will have switched to its smoke-free
products and that by 2025 more than 50% of its total net revenues
will come from smoke-free products. As of September 30, 2022, PMI
estimates there were approximately 19.5 million total IQOS users,
excluding Russia and Ukraine, of which approximately 13.5 million
have switched to IQOS and stopped smoking, with the balance in
various stages of conversion7.
BONDS by IQOS is designed to be used only with BLENDS tobacco
sticks to deliver a variety of tobacco tastes. At the time of
launch, BLENDS tobacco sticks will be available in five different
flavors, including classic, menthol and aromatic. When fully
charged BONDS by IQOS delivers up to 20 uses, including three
consecutive experiences. BONDS by IQOS comes in four different
colors.
BONDS by IQOS is available in a pilot city launch in the
Philippines as of November 22, with further commercialization
anticipated during the remainder of 2022 and next year.
Further information in relation to PMI’s smoke-free products can
be found on https://www.iqos.com.
Important information: BONDS by IQOS is not risk-free.
Philip Morris International: Delivering a Smoke-Free
Future
Philip Morris International (PMI) is a leading international
tobacco company working to deliver a smoke-free future and evolving
its portfolio for the long term to include products outside of the
tobacco and nicotine sector. The company’s current product
portfolio primarily consists of cigarettes and smoke-free products,
including heat-not-burn, vapor and oral nicotine products, which
are sold in markets outside the U.S. Since 2008, PMI has invested
more than USD 9 billion to develop, scientifically substantiate and
commercialize innovative smoke-free products for adults who would
otherwise continue to smoke, with the goal of completely ending the
sale of cigarettes. This includes the building of world-class
scientific assessment capabilities, notably in the areas of
pre-clinical systems toxicology, clinical and behavioral research,
as well as post-market studies. The U.S. Food and Drug
Administration (FDA) has authorized the marketing of versions of
PMI’s IQOS Platform 1 devices and consumables as a Modified Risk
Tobacco Products (MRTPs), finding that an exposure modification
orders for these products are appropriate to promote the 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 around the
world had already switched to IQOS and stopped smoking. With a
strong foundation and significant expertise in life sciences, in
February 2021, PMI announced its ambition to expand into wellness
and healthcare areas and deliver innovative products and solutions
that aim to address unmet consumer and patient needs. For more
information, please visit www.pmi.com and www.pmiscience.com.
Forward-Looking and Cautionary Statements
This press release contains statements relating to future plans
and circumstances, including statements regarding our planned
strategies, programs, operations, and goals that are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements may generally, but not always, be identified by
the use of words such as "anticipates," "intends," "expects,"
"believes," or similar expressions. By their nature,
forward-looking statements involve risk and uncertainty 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 these
forward-looking statements due to many factors, many of which are
outside the control of PMI. Any such forward-looking statements
speak only as of the date on which they are made and PMI has no
obligation (and undertakes no such obligation) to update or revise
any of them, whether as a result of new information, future events
or otherwise, except for in accordance with applicable laws and
regulations.
PMI's business risks include: excise tax increases and
discriminatory tax structures; increasing marketing and regulatory
restrictions that could reduce our competitiveness, eliminate our
ability to communicate with adult consumers, or ban certain of our
products in certain markets or countries; health concerns relating
to the use of tobacco and other nicotine-containing products and
exposure to environmental tobacco smoke; litigation related to
tobacco use and intellectual property; intense competition; the
effects of global and individual country economic, regulatory and
political developments, natural disasters and conflicts; the impact
and consequences of Russia's invasion of Ukraine; changes in adult
smoker behavior; lost revenues as a result of counterfeiting,
contraband and cross-border purchases; governmental investigations;
unfavorable currency exchange rates and currency devaluations, and
limitations on the ability to repatriate funds; adverse changes in
applicable corporate 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 effectiveness of its data privacy policies. PMI's
future profitability may also be adversely affected should it be
unsuccessful in its attempts to produce and commercialize
reduced-risk products or if regulation or taxation do not
differentiate 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
the best global talent, including women or diverse candidates.
Future results are also subject to the lower predictability of our
reduced-risk product category's performance. 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 year ended December 31, 2021, and the Form 10-Q
for the quarter ended September 30, 2022. PMI cautions that the
foregoing list of important factors is not a complete discussion of
all potential risks and uncertainties. PMI does not undertake to
update any forward-looking statement that it may make from time to
time, except in the normal course of its public disclosure
obligation.
1 PMI global estimate of total In-Market Sales of Heated Tobacco
category in units as of December 2021 (excluding China and US). 2
PMI global estimate of total In-Market Sales of Heated Tobacco
category in units as of December 2021 (excluding China and US). 3
97% agreement amongst 345 adult consumers in Philippines, 2022 4
Important information: It does not necessarily equal a 95%
reduction in risk. BONDS by IQOS is not risk-free. 5 “95% less”
represents the average reductions in levels of a range of harmful
chemicals (excluding nicotine) compared to the smoke of a reference
cigarette. See Important Information on IQOS.com 6 Figure inclusive
of Russia & Ukraine 7 Source: PMI Q3 2022 Earnings
Release--October 2022
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version on businesswire.com: https://www.businesswire.com/news/home/20221121005673/en/
Philip Morris International For press inquiries, please
contact:
Bryson W. Thornton +41 (0) 58 242 4500
Bryson.Thornton@pmi.com
Blaine Dodds +41 (0) 58 242 4500 Blaine.Dodds@pmi.com
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