Researching and developing smoke-free alternatives that are scientifically substantiated to be less harmful than cigarettes was the first step in our journey to address our biggest negative externality: the impact of cigarette smoking on health.

In the process, we have expanded our social, human, intellectual, and manufactured capital in ways that allow us to move from a value proposition centered on doing less harm toward one where we can seek to have a net positive impact on society. The aim now is to use this capital to develop adjacent avenues of growth in wellness and healthcare.

PMI’s investment and innovation approach in the wellness and healthcare space is part of a larger transformation that puts science, technology, and sustainability at the heart of our company’s future, delivering products and solutions that aim to improve people’s lives and deliver a net positive impact on society.

To achieve this objective, we will rely on and expand upon our existing core capabilities, and seek partnerships with entrepreneurs and companies that have the proper experience and credibility in relevant fields.

As described in our Statement of Purpose, the critical next step in PMI’s transformation is leveraging our expertise and capabilities to expand into products beyond tobacco and nicotine as part of a natural evolution into a broader wellness and healthcare business.

Leveraging our company’s expertise in aerosol chemistry and physics, best-in-class preclinical safety and toxicology and clinical research, and continued investments in capabilities and R&D programs, we are developing innovative and differentiated products for unmet patient and consumer needs.

Although we are at the beginning of this journey, our intention is set: we are working towards furthering the transformation of our company and our deep belief in the opportunity these adjacent avenues of growth can bring in the long term, leveraging our ability to monetize the skills and assets we have accrued and developed during the process of our transformation.