Philip Morris International says it will stop selling Marlboro cigarettes in Britain within a decade as it called on the UK government to ban the sale of its tobacco products
The remarks come amid dwindling smoker numbers in the United Kingdom — where cigarettes have been sold in plain packaging since 2016 — and a broader push by the UK government to reduce the prevalence of smoking. Many investors have already stripped tobacco from their portfolios, and a growing number of financial institutions have pledged to implement tobacco-free policies.
"Quitting is the best option, but for those who don't, science and technology has allowed companies like ours to create better alternatives to continued smoking," Gilchrist said. The company wants to generate more than 50% of net revenue from smoke-free products within four years, up from about a quarter currently.Earlier this month, Phillip Morris International announced that it had agreed to a $1.2 billion deal to buy UK asthma inhaler maker Vectura.
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