PM

Philip Morris International Inc. manufactures and sells cigarettes, smoke-free products, and associated electronic devices in markets outside the United States. Headquartered in Stamford, Connecticut, the company was spun off from Altria Group in 2008 and operates in approximately 180 markets worldwide. PMI's product portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, Bond Street, and Chesterfield. The company employs approximately 71,000 people globally and operates over 40 manufacturing facilities. In recent years, PMI has pursued an ambitious transformation strategy centered on smoke-free alternatives, primarily through its IQOS heated tobacco system and ZYN nicotine pouches. IQOS, which heats rather than burns tobacco, has gained significant traction in markets including Japan, South Korea, and parts of Europe. The company completed its acquisition of Swedish Match in 2022 for approximately $16 billion, substantially expanding its presence in the oral nicotine pouch category. PMI reports that smoke-free products now represent a growing portion of its net revenues, reflecting its strategic pivot away from traditional combustible cigarettes. The company maintains leading market positions in numerous international markets and continues investing heavily in research, development, and commercialization of reduced-risk products as regulatory environments evolve globally.