Seek net positive impact in wellness and healthcare

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 most significant 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. With an eye on the long term, we intend to use this capital to develop adjacent avenues of growth in wellness and healthcare.

PMI’s investment and innovation approach in wellness and healthcare is part of a larger transformation that puts science, technology, and sustainability at the heart of our Company’s future. We aim to deliver products and solutions that improve people’s lives.

To achieve this objective, we will rely on and expand our existing core capabilities and seek partnerships with respected entrepreneurs and companies that offer complementary experience and qualifications in relevant fields.

As described in our Statement of Purpose, with a longer horizon in sight, 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 capabilities, and continued investment in our capabilities and R&D programs, we intend to develop and responsibly commercialize innovative and differentiated products to address unmet patient and consumer needs.

Although we are at the beginning of this journey, our intention is set: we are transforming our Company to ultimately have a net positive societal impact. Pursuing adjacent avenues of growth by tapping into the skills and assets we have accrued and developed over the course of our transformation will bring long-term value.