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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Philip Morris International Inc | NYSE:PM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.22 | -0.18% | 121.49 | 121.98 | 120.902 | 121.65 | 3,922,766 | 23:32:28 |
The U.S. Food and Drug Administration (FDA) authorized a renewal of a risk modification order submitted by Swedish Match USA, Inc. (Swedish Match), an affiliate of Philip Morris International, Inc. (PMI) (NYSE: PM), for eight General snus products. As part of the authorization, the agency granted use of the modified risk claim to reach more adults 21+ who smoke or use traditional tobacco products. The agency concluded that renewing the General snus risk modification order will significantly reduce harm and the risk of tobacco-related disease to individual tobacco users and benefit the health of the population as a whole.
Initially granted by the FDA in October 2019, the modified risk order permitted Swedish Match to communicate on its website to legal-age consumers that “Using General snus instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis.”
For a product to be authorized as a modified risk tobacco product (MRTP), applications must demonstrate that they will significantly reduce harm and the risk of tobacco-related disease to individual tobacco users and benefit the health of the population as a whole. Swedish Match’s submission included 330 scientific studies, including numerous epidemiological studies from Sweden. Sweden has one of the world’s lowest smoking rates which in part can be attributed to the availability of alternatives such as snus that are better than conventional cigarettes. The FDA noted the importance of the “Swedish experience” in their decision.
“Swedish Match is on a mission to end smoking for good,” said Tom Hayes, president of Swedish Match North America. “The FDA’s decision is an important step in helping cigarette smokers and other traditional tobacco users make the switch to smoke-free products as a better alternative to continued smoking and in helping to protect public health.”
General snus is a smoke-free oral tobacco product, traditionally produced in Sweden, that is non-fermented and air-cured. The renewed risk modification order applies to the eight General snus varieties, which have been available in the U.S. for over a decade and were previously authorized as MRTPs.
In 2022, a PMI affiliate acquired Swedish Match, a leader in oral nicotine delivery. Since 2008, PMI affiliates have invested more than $12.5 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke.
Note to Editor
Philip Morris International in the U.S.: Delivering a Smoke-Free Future PMI’s U.S. affiliates are working to deliver a smoke-free future. Since 2008, PMI affiliates have invested $12.5 billion globally to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke with the goal of transitioning them to better alternatives. In 2022, a PMI affiliate acquired Swedish Match – a leader in oral nicotine delivery – creating a global smoke-free champion led by the IQOS and ZYN brands. The U.S. Food and Drug Administration has authorized versions of IQOS electronically heated tobacco devices and Swedish Match’s General snus as modified risk tobacco products. Renewal applications for these IQOS products are pending before the FDA. For more information, please visit www.pmi.com/us/ and www.pmiscience.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241111062598/en/
Philip Morris International U.S. Communications Matt Sheaff +1 (203) 524-9146 matthew.sheaff@smpmi.com
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