Altria, PMI come to a $2.7bn agreement on Iqos exclusive sales rights in the US

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.

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Antonia Di Lorenzo

Assistant news editor/senior reporter
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.

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