Philip Morris says it could stop selling conventional cigarettes
The chief executive of Philip Morris, the worlds largest international tobacco, said the company could eventually stop selling conventional cigarettes, reports the news portal www.independent.co.uk.
His comments come as Philip Morris released IQOS, a smokeless cigarette which the company claims generates a fraction of the harmful chemicals produced by normal cigarettes, in London.
The company claims the level of harmful chemicals produced was 90 to 95 per cent lower than cigarette smoke, but anti-smoking groups called for more independent evidence.
In an interview with the BBC Mr Calantzopoulos said: I believe there will come a moment in time where I would say we have sufficient adoption of these alternative products to start envisaging, together with governments, a phase-out period for cigarettes, I hope this time will come soon, he added.
IQOS is already on sale in over a dozen markets including Japan, Switzerland and Italy. After an extensive application process with U.S. health authorities, the product is expected to reach America next year, though without claims that its any safer than regular cigarettes. IQOS will have to pass a second hurdle with the Food and Drug Administration before it can be marketed as safer.
Quitting old-fashioned smokes wont be easy for tobacco companies or their stakeholders. Philip Morris turned out 850 billion cigarettes last year, generating net revenue of about $74 billion.
All that tobacco pays off handsomely for global investors: Counting dividends, the companys stock has returned roughly 70 percent over the past five years.
Anti-smoking campaigner saidproducts such as IQOS, need toughregulations.
Deborah Arnott, chief executive of Action on Smoking and Health (Ash), told the BBC: We still need to be very cautious about what the industry is up to.
