Philip Morris International Inc

Philip Morris International derives approximately 70% of its $35.2 billion annual revenue from combustible cigarette manufacturing, with its Marlboro brand sold in over 180 countries. The company’s product portfolio includes cigarettes, heated tobacco units (IQOS), e-vapor products, and oral nicotine pouches. While PMI publicly advocates for a “smoke-free future,” its core business remains the production and global distribution of traditional tobacco products.

The company has a documented history of regulatory violations related to its marketing and product compliance. In December 2024, Philip Morris agreed to pay $1.2 million to settle a U.S. federal probe into violations of the ban on flavored tobacco products. Separately, a Danish court fined the company 3 million kroner for tobacco advertising violations. PMI has also engaged in trade advocacy to challenge restrictions on its newer products, lobbying EU officials to oppose bans on heated tobacco products outside Europe as barriers to free trade.

Despite its stated ambition to replace cigarettes, PMI continues to manufacture and sell the combustible products responsible for the overwhelming majority of tobacco-related harm. The company remains a defendant in ongoing tobacco product liability litigation, including a court-approved plan in Canada as of March 2025 to resolve claims against it and its affiliates.