Cigarette smoking is the most dangerous form of nicotine consumption. People who do not smoke should not start. Those who do smoke should quit. And those adult smokers who would otherwise continue to smoke should switch to the better alternatives to cigarettes now available. 

Our priority is to address the health impacts associated with smoking by offering scientifically substantiated options that have been demonstrated to be a far better choice than continued smoking. We then chose to go beyond that by giving these products the purpose of replacing cigarettes, helping achieve the end of smoking. 

Our purpose is to make our legacy product, cigarettes, obsolete. The public health benefit of smoke-free products depends not only on their potential to reduce the risk of smoking-related disease compared with continued smoking, but also on adult smokers using these products instead of cigarettes. 

This is critical to achieve the expected public health benefit. For that, broadening access is key, and we are committed to improving consumer awareness, while also making smoke-free products more acceptable, available, and affordable to adults who smoke. 

The future of nicotine is indisputably in smoke-free products, which are experiencing rapid growth. Through our early and sustained investment in R&D, and consequent leadership in technology and innovation, we have built a powerful position and competitive advantage. 

By focusing our commercial expenditure on encouraging adult smokers who otherwise would not quit to switch fully to better alternatives, we aim to reach as many adult smokers as possible in as many markets as possible; this includes the around 130 million PMI cigarette smokers, as well as the hundreds of millions of adult smokers who buy competitor brands. The business case is clear: Our smoke-free product consumables drive higher net revenues per unit than cigarettes, with accretive product contribution per unit already helping to generate attractive returns on our significant upfront and ongoing investments in developing the category.

We are also gaining share of the total tobacco market, thereby increasing our current and future revenue base. We are committed to marketing and selling our products responsibly. Concerns that our products, marketing, or sales could discourage smoking cessation, encourage initiation of nicotine use, or hold particular appeal to minors would undermine our credibility, harm our reputation, and potentially trigger adverse regulation, hampering our ability to achieve a smoke-free future as fast as possible.