PM - Philip Morris International Inc.

Philip Morris International Inc. (PMI) is a leading global tobacco company that aims to deliver a smoke-free future by developing and marketing innovative smoke-free products. Founded in 1987 and based in Virginia, PMI primarily operates in the tobacco sector and has invested over $12.5 billion since 2008 in the research and commercialization of smoke-free alternatives such as heated tobacco, vaporizers, and oral nicotine products. The company's portfolio includes well-known brands like IQOS and ZYN, which are positioned as reduced-risk products (RRPs) targeting current adult smokers seeking better alternatives to traditional smoking.

In addition to its core tobacco business, PMI is expanding into wellness and healthcare markets through strategic acquisitions, including Vectura Group and Fertin Pharma, to enhance its product lines. As of late 2023, PMI operates in approximately 84 markets with a focus on transitioning adult smokers away from combustible cigarettes. The company continues to navigate a highly regulated and competitive landscape while aligning its operations with evolving consumer preferences and regulatory requirements.