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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. Stop harmful cigaretteFertin 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. Heated tobaccoThe 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. |
Frequently asked questions
Why did Philip Morris buy Fertin Pharma?▼
Philip Morris acquired Fertin Pharma to strengthen its smoke-free product portfolio. The purchase supports the company's strategy to transition away from cigarettes toward nicotine replacement therapies and smoke-free alternatives.
What products does Fertin Pharma manufacture?▼
Fertin Pharma produces nicotine gum, tablets, and powders used for pharmaceutical and nutraceutical applications. These products help people quit smoking and reduce nicotine dependence.
What is Philip Morris's goal for smoke-free products by 2025?▼
Philip Morris aims to generate more than 50% of its sales from smoke-free products by 2025. The company also targets at least $1 billion in revenue from products beyond nicotine.
How much has Philip Morris invested in smoke-free products?▼
Philip Morris has invested more than $8.1 billion over the years in developing smoke-free products and alternatives to traditional cigarettes.
What is IQOS and why is Philip Morris focused on it?▼
IQOS is Philip Morris's heated tobacco product that doesn't involve burning tobacco like cigarettes do. The company focuses on IQOS because consumers are increasingly moving away from flammable tobacco products.