Latest Philip Morris International Inc News

Thai court fines Philip Morris $39.7 million for tax evasion

Nov. 29, 2019 6:20 AM EST

BANGKOK (AP) — A court in Thailand on Friday found the local unit of tobacco giant Philip Morris guilty of evading taxes by under-declaring the value of cigarettes it imported from the Philippines. It ordered the company to pay a fine of 1.2 billion baht ($39.7 million). The Criminal Court found Philip...

Altria takes a $4.5 billion hit on Juul amid vaping backlash

Oct. 31, 2019 6:13 PM EDT

WASHINGTON (AP) — Marlboro-maker Altria is taking a big financial hit from its multibillion-dollar bet on e-cigarettes. The tobacco giant on Thursday slashed the value of its investment in the beleaguered vaping company Juul Labs by a third, dragging down its results to a financial loss for the quarter....

US endorses tobacco pouches as less risky than cigarettes

Oct. 22, 2019 4:56 PM EDT

WASHINGTON (AP) — For the first time, U.S. health regulators have judged a type of smokeless tobacco to be less harmful than cigarettes, a decision that could open the door to other less risky options for smokers. The milestone announcement on Tuesday makes Swedish Match tobacco pouches the first so-called...