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. The company already handles programmatic buying in-house and plans to expand the model globally, Mr. Herscovici said. WPP reportedly isn’t ready to give up its 24.7% stake in Japanese ad agency Asatsu-DK for the ¥152 billion ($1.35 billion) price private-equity firm Bain Capital has offered for the company. People close to WPP said the tender “severely undervalues” the Japanese firm.
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News Search | All News Topics > Tobacco Industry News Topics : By Country | By State ; Press Releases by Industry Channel > All Tobacco Industry Press Releases Philip Morris International (PMI) Announces Filing of Application for Its Electronically Heated Tobacco Product with the US Food and Drug Administration (FDA) LAUSANNE, Switzerland--(BUSINESS WIRE)--Dec. 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.
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