LAUSANNE – Philip Morris International Inc.’s (PMI) (NYSE/Euronext Paris: PM) EU Region President Drago Azinovic made the following comment regarding the agreement reached between the European Commission, Parliament and Council on the proposal for the revision of the Tobacco Products Directive (TPD):
“The EU has ignored its own standards for proportionate, evidenced-based policymaking during the five years that the Tobacco Products Directive has been under consideration.
“Discussions in Council and the European Parliament might have marginally amended the original text, but the EU’s failure to do its homework will be a gift for the criminals profiting from the black market in tobacco, and a blow to the hundreds of thousands of people working in the legal industry and member state governments now faced with filling budget gaps.
“Instead of further harmonizing the internal market, a stated objective of the Directive, measures in the TPD will further erode property rights that the EU Charter protects. This sends a worrying signal to other sectors of the economy that depend on legal certainty and a rigorous defense of intellectual property rights.”
PMI is the world’s leading international tobacco company, with six ot the world’s top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the developement and commercialization of Reduced-Risk Products (RRPs). RRPs is the term PMI uses to refer to products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes. Through multidisciplinary capabalities in product development, state-of-the-art facilities, and indusrty-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements.