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6, 2016-- Philip Morris International Inc. (“PMI”) (NYSE / Euronext Paris: PM) on Dec. 5 submitted a Modified Risk Tobacco Product (MRTP) application for its electronically heated tobacco product with the U.S. Food and Drug Administration’s (FDA) Center for Tobacco Products. This is consistent with the company’s stated goal of submitting its MRTP application in 2016. PMI anticipates the FDA taking a minimum of 60 days to complete an administrative review to determine whether to accept the application for substantive review. Philip Morris International Inc. (PMI) is the world’s leading international tobacco company, with six of the world's top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the development and commercialization of Reduced-Risk Products (“RRPs”). RRPs is the term PMI uses to refer to products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and industry-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements.
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The ads won’t display graphic images but instead will present stark black-and-white text statements stating how tobacco companies “intentionally designed cigarettes to make them more addictive,” while another will say “more people die every year from smoking than from murder, AIDS, suicide, drugs, car crashes, and alcohol, combined.” Amazingly, there’s no requirement these ads run on any digital channels, where many young, impressionable people who might be considering taking up smoking tend to consume a lot of their media. “I think [tobacco companies are] getting off kind of lightly,” said John Boiler, co-founder of 72andSunny, an agency that does work for the antitobacco nonprofit Truth Campaign. CMO Today’s Alexandra Bruell reports: Anheuser-Busch InBev has consolidated its global media account with four agencies, down from eight. Dentsu Aegis Network wins the large U.S. account from incumbent Mediacom, which is owned by WPP. Omnicom, WPP and Publicis media agencies will support various international markets. Lucas Herscovici, a global marketing executive at the beer giant, said the consolidation was designed to “reduce complexity.” Usually, that’s code for cost savings, but Mr. Herscovici insisted that wasn’t the motivation. Still, he admitted, “In every pitch of this nature when you’re involving over 50 countries [with] spends in the hundreds of millions of dollars, and when there’s competition across agencies, obviously savings are achieved.” Winning shops should feel good about adding business at a time when most holding companies are reporting subpar growth. They shouldn’t bank on major profits from programmatic fees.
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Both revenue and net income will grow at a slower pace this year, according to Chayanika Ranasinghe, an analyst at CT CLSA Securities Ltd., in Colombo. The steep decline in sales volume seen after the November action is expected to “moderate, particularly if there are no further drastic tax increments or regulations,” she said. Ceylon Tobacco have climbed 24 percent this year, compared with the 4.3 percent gain in the nation’s benchmark Colombo All-Share Index. Measures being taken by Sri Lanka are in line with those by governments across the world to curb smoking. In 2015, the island nation ordered 60 percent of a cigarette packet’s surface be covered by pictorial health warnings and a few months later increased it to 80 percent . China, where 44 percent of all cigarettes are smoked, banned smoking in public places in 2015. And India and Indonesia have been raising cigarette taxes. Per capita incomes in Sri Lanka have more than doubled in the past decade. Government data show expenditure on liquor and tobacco in urban households has fallen even as incomes have risen, said Mangalee Goonetilleke, an analyst at Asia Securities.