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LONDON, Sept 28 (Reuters) - Philip Morris International (PMI) on Thursday signalled a slower than anticipated U.S.
roll out of its IQOS heated tobacco device, a choice analysts said was positive for its competitors in the short term.
The New York-listed Marlboro maker also said it aims for
more than two thirds of its net revenues to come from "smoke-free" products
by 2030, up from 50% in 2025, as it tries to transform its image from a cigarette purveyor to a driver of
the shift to healthier alternatives.
Investors have been closely watching IQOS' entry into
the U.S., the world's largest market for nicotine products, and had been expecting it from May
2024 next year. Reuters reported on Wednesday that PMI is hiring lobbyists across a
host of key U.S. states ahead of the launch.
Chief Executive Jacek Olczak said IQOS would launch in four cities in two unnamed U.S.
states from 2024, but a national launch would only come after PMI receives approval to sell
the latest version, known as IQOS ILUMA.
The company was planning to apply for approval in October and expected it from 2025, he continued.
"We need to warm up the tyres," he said of the initial launch, which would help PMI fine tune its approach.
A national roll-out of ILUMA would follow but in phases, he continued, adding launching in 10 states
in the first year would make sense.
Meaningful traction for PMI's heated tobacco products in the U.S.
"now looks delayed until ILUMA," Owen Bennett, equity analyst at Jefferies, said
in a note, adding this was a positive for PMI's rivals.
Olczak also signalled that PMI's push into non-nicotine products was no
longer a priority. It recently scrapped an ambition for $1 billion in net revenues to come from
sales of such products by 2025.
Instead, PMI will focus its resources on IQOS and nicotine pouch
brand ZYN, Olczak said, adding it had been too optimistic around acceptance of big tobacco companies operating
outside of nicotine.
PMI also announced updated medium-term targets including for revenue and earnings per share, and ambitious volume targets for IQOS and ZYN.
ZYN and other oral nicotine products in the U.S.
would help drive an expected $2 billion in revenues there in 2024, even before IQOS ILUMA,
executives said.
PMI shares were up 1.5% on Thursday. (Reporting by Emma Rumney in London and Granth Vanaik in Bengaluru; additional reporting by Ananya
Mariam Rajesh in Bengaluru; Writing by Emma Rumney; Editing by Elaine Hardcastle and Josie Kao)
The Gypsy King vs Usyk: A Monumental Fight for Undisputed Glory
Fury, the Gypsy King, and Usyk, the technician are on a collision course of unparalleled significance. It’s far beyond a championship match; it’s about legacy. The Gypsy King has risen to the pinnacle of the sport with his charisma coupled with unparalleled talent inside the ropes. Beating Wilder and Klitschko have cemented his place among the all-time greats. Meanwhile, Usyk, the technician poses a unique challenge for Fury. On the flip side, the Ukrainian technician is a true test for Fury not just for Fury, and for boxing fans worldwide. Usyk’s rise to prominence began in the cruiserweight division, where he became an unstoppable force. Don’t miss out for an epic boxing match of the year as Usyk takes on Fury in a must-watch showdown! Catch every punch streamed live on our website. Don’t miss your chance — visit tysonvusyk.com now and enjoy the fight with top-notch streaming!
In the United Kingdom, the ring walks are planned for late evening, ensuring maximum viewership. In Usyk’s native Ukraine, as well as viewers across Europe and the Americas, the anticipation is at a fever pitch. Where the bout will take place is still under speculation, with talk of iconic boxing destinations. Regardless of the venue, fans can be sure: the excitement will be unmatched. While the spotlight is centered on the headline fight, the fights leading up to the main event promises plenty of action. Major boxing events include preliminary bouts with top talent, providing non-stop action before the headliner.
Traditionally, undercards of this caliber have been a stage for breakout performances. Boxers seeking the spotlight often seize these moments to showcase their skills, knowing millions are watching. Though the supporting fights for Fury vs Usyk are still unconfirmed, fans are eagerly guessing. Will there be a heavyweight clash? No matter the final roster, it’s sure to add to the excitement. What sets this bout apart so intriguing is the clash of styles. The Gypsy King’s unusual blend of height and speed are unparalleled in the sport. With his immense height and reach advantage, Fury can control a fight.
His trilogy with Deontay Wilder highlighted his resilience, bouncing back from adversity to finish strong. In his fight with Klitschko, Fury showcased his tactical brilliance, demonstrating his mental sharpness. Meanwhile, Usyk, brings speed, precision, and finesse. With his unorthodox stance, his movements create openings. Usyk’s punches aren’t the heaviest in the division, they consistently find their mark. With the date drawing closer, Predictions for this fight are becoming a hot topic.
Most bookmakers favor Fury as predicted by many experts, given his physical stature, his track record in big matches, and his adaptability. However, Usyk's underdog status doesn’t mean he’s an underdog in spirit, his dominance against Joshua proved that he can handle the physicality of the heavyweight division.
For Fury himself is a chance to further solidify his greatness. A triumph for Fury would solidify his claim as the greatest heavyweight of his generation. Conversely, If Usyk wins would be a monumental achievement. Securing two undisputed titles is a once-in-a-lifetime achievement.
Web: tysonvusyk.com
Fury vs Usyk represents something greater than a title bout. It’s a meeting of two unique worldviews. Fury’s bold and unapologetic character is the opposite of Usyk’s humble and disciplined approach. The clash of personalities adds depth to the narrative. It’s a fight of wills and ideologies. No matter who wins, the significance of this match will be remembered as a defining moment in boxing. Fury vs Usyk is a defining moment. It represents the culmination of their careers. Whether Fury secures the win with his experience and unpredictability, or Usyk secures a victory thanks to his skill and resilience, it’s certain that, this will be a legendary contest.
This fight between Fury and Usyk is more than just a fight. It’s a fight of grit and strategy. The two competitors will fight with everything they possess.
Visit for more information: Tyson Fury, the hea
Tyson Fury, the heavyweight king versus Oleksandr "The Cat" Usyk: The Historic Heavyweight Clash Face-off for the all the belts
Tyson "Gypsy King" Fury against Usyk: The Epic Heavyweight Battle Battle for the undisputed champion's
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