US cigarette maker Altria has made a $2.7bn agreement with Philip Morris International (PMI) on the exclusive rights to sell Iqos heated tobacco products in the US.
The agreement puts an end to the previous business arrangement between the two firms. Under the new agreement, Altria will receive cash payments from PMI totalling approximately $2.7bn in exchange for “assigning exclusive US commercialisation rights to the Iqos tobacco heating system” from 30th April 2024.
Get access to premium content that is normally only available for subscribers.
For the duration of a week, you can read our news analysis, identify market trends and understand upcoming changes in the industry, which will enable you to get ahead of your competitors.
By signing up you agree to our Terms and Conditions Please note trial access may take up to 24 hours to be granted as access must be qualified by a member of the TobaccoIntelligence team.
LATEST ALERTS
