Reducing smoking rates is a key focus for Philip Morris International (PMI), as demonstrated by its recent flagship event, Technovation 2024, held in Abu Dhabi. The event brought together media representatives from around the world to discuss the potential of smoke-free products and the role of innovation, technology, and science in creating a smoke-free future. PMI’s CEO, Jacek Olczak, shared insights into the company’s three-decade journey in research and development to pioneer products that offer a better choice than traditional smoking. PMI has set ambitious targets to increase its revenue from smoke-free products to 66% by 2030, building on the 38% already achieved. The event highlighted PMI’s transformation into a leader in smoke-free innovations, with a vision of a smoke-free future that is achievable.
PMI’s push for a smoke-free future is grounded in scientific research that identifies burning tobacco as the primary cause of smoking-related diseases. CEO Jacek Olczak reaffirmed the company’s commitment to a smoke-free world, citing investments of $12.5 billion since 2008. PMI has been working towards this goal for over a decade and has introduced innovative heat-not-burn products in countries like Japan and Italy. Olczak emphasized the importance of science and evidence in driving the shift towards smoke-free products, pointing to successful examples in countries like Sweden where alternative product formats have led to reduced smoking rates. The company aims to derive two-thirds of its revenue from smoke-free products by 2030, underscoring its commitment to innovation and harm reduction.
During the event, a panel of experts explored the evolving regulatory landscape for smoke-free products, highlighting the importance of forward-thinking governments in recognizing the role of scientifically substantiated alternatives in reducing smoking rates. PMI’s significant investment in research and development, with over 1,500 dedicated positions, demonstrates its commitment to advancing scientific knowledge in the field. The company presented a vision where appropriate regulatory frameworks and stakeholder collaboration could lead to the end of cigarette sales in many countries within 10-15 years. Placing consumers at the center of research and development efforts was also emphasized as essential for developing less harmful alternatives and empowering informed choices.
PMI’s success in the Middle East and North Africa regions was attributed to providing a diverse portfolio of products that cater to different consumer needs. By understanding the balance between regulation, consumer preferences, and cultural factors, PMI has been able to successfully introduce smoke-free products in various markets. The panel stressed the importance of customization to meet consumer demands and the overall goal of moving smokers away from traditional cigarettes. The event underscored the critical role of informed consumers in making educated choices about harm reduction alternatives and highlighted the need for ongoing research and development that prioritizes consumer needs.
PMI’s showcase of smoke-free products at the event included its leading heated tobacco system, IQOS, e-vapor products, and oral smokeless nicotine pouch. This multi-category portfolio, backed by scientific evidence, offers adults a better alternative to traditional smoking. IQOS, in particular, has become PMI’s premium nicotine brand globally, demonstrating significant progress in the company’s smoke-free innovation efforts. The event featured an innovative exhibition showcasing different zones, including a consumer retail experience for harm reduction alternatives, a virtual reality journey exploring facts about smoke-free products, and PMI’s cutting-edge science center. This exhibition highlighted PMI’s commitment to tobacco harm reduction and its continued efforts to provide consumers with scientifically substantiated smoke-free options.
