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May 24, 2019
Philip Morris International (PMI) Enters into a Patent Purchase Agreement of New Technology with the Potential to Reduce the Harm of Smoking
NEW YORK, May 26, 2011 (BUSINESS WIRE) --
Philip Morris International Inc. (NYSE / Euronext Paris: PM) today announced that it has entered into an agreement that assigns global patent rights to PMI of a new technology employing a unique method for delivering a nicotine-containing aerosol that has the potential to reduce the harm of smoking.
The technology has been acquired from its inventors, including Professor Jed Rose, Ph.D., a leading expert in the field of nicotine addiction research. Commenting on the agreement, Professor Rose said: "Cigarette smoking causes millions of deaths per year worldwide, due to cancer, heart and lung disease. The diseases caused by smoking are believed to be due largely to the harmful products of combustion rather than to nicotine itself. We believe this new technology has the potential over time to offer an attractive alternative to conventional cigarettes, thereby reducing smokers' exposure to carcinogens and other harmful smoke constituents."
Commenting on this agreement, Doug Dean, PMI's Senior Vice President, Research and Development, said: "This agreement represents a further important step in our efforts to develop products that have the potential to reduce the risk of smoking-related diseases. We look forward to working jointly with Dr. Rose to assure the product development and eventual commercialization of this unique technology."
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international tobacco company, with seven of the world's top 15 brands, including Marlboro, the number one cigarette brand worldwide. PMI's products are sold in approximately 180 countries. In 2010, the company held an estimated 16.0% share of the total international cigarette market outside of the U.S., or 27.6% excluding the People's Republic of China and the U.S. For more information, see www.pmi.com.
SOURCE: Philip Morris International Inc.
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