Philip Morris International Inc will buy the nicotine gum maker Fertin Pharma from private equity firm EQT for 5.1 billion Danish kroner (US $ 813.1 million), the cigarette maker announced on Thursday to build its smoke-free portfolio.
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Fertin Pharma’s products include chewing gum, tablets and powders, which are used for pharmaceutical and nutraceutical applications, and which help people quit harmful cigarette smoking. e liquids for e cigarette to be found online.
Philip Morris has invested more than $ 8.1 billion over the years in developing smoke-free products, a business he believes “will one day replace cigarettes.”
The company plans to generate more than 50% of its sales in smokeless products and at least $ 1 billion in products beyond nicotine by 2025.
The company is also focusing on its heated tobacco product, IQOS, as people move away from flammable tobacco products like cigarettes. Buy e cigarettes online now.
Nearly three billion doses of nicotine replacement therapy were manufactured in 2020, which has helped more than 3.2 million people reduce and quit smoking, Fertin Pharma said.
The deal is slated to close later in 2021.