Philip Morris CEO talks post-cigarette future

|About: Philip Morris Internation... (PM)|By:, SA News Editor

The $3B investment by Philip Morris (PM -1.7%) in IQOS tobacco products is aimed at planning for a post-cigarettes future if the company's top exec can be taken at face value.

Philip Morris CEO Andre Calantzopoulos: "There will come a moment in time where I would say we have sufficient adoption of these alternative products…and sufficient awareness to start envisaging together with government a phaseout period for cigarettes, and I hope this time will come soon."

Some industry rivals have grumbled that the science isn't there yet to prove the safety claims made by Philip Morris on its new heat-not-burn e-cig innovation.

IQOS products have sold well this year, despite some supply shortages.

Previously: Philip Morris looks towards phasing out cigarettes (Nov. 30)