Philip Morris International (ticker: PM, exchange: New York Stock Exchange (.N))
News Release -
Philip Morris International (PMI) Enters into a
Patent Purchase Agreement of New Technology with the Potential to Reduce
the Harm of Smoking
NEW YORK, May 26, 2011 (BUSINESS WIRE) --
Philip Morris International Inc. (NYSE / Euronext Paris: PM) today
announced that it has entered into an agreement that assigns global
patent rights to PMI of a new technology employing a unique method for
delivering a nicotine-containing aerosol that has the potential to
reduce the harm of smoking.
The technology has been acquired from its inventors, including Professor
Jed Rose, Ph.D., a leading expert in the field of nicotine addiction
research. Commenting on the agreement, Professor Rose said: "Cigarette
smoking causes millions of deaths per year worldwide, due to cancer,
heart and lung disease. The diseases caused by smoking are believed to
be due largely to the harmful products of combustion rather than to
nicotine itself. We believe this new technology has the potential over
time to offer an attractive alternative to conventional cigarettes,
thereby reducing smokers' exposure to carcinogens and other harmful
Commenting on this agreement, Doug Dean, PMI's Senior Vice President,
Research and Development, said: "This agreement represents a further
important step in our efforts to develop products that have the
potential to reduce the risk of smoking-related diseases. We look
forward to working jointly with Dr. Rose to assure the product
development and eventual commercialization of this unique technology."
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international
tobacco company, with seven of the world's top 15 brands, including Marlboro,
the number one cigarette brand worldwide. PMI's products are sold in
approximately 180 countries. In 2010, the company held an estimated
16.0% share of the total international cigarette market outside of the
U.S., or 27.6% excluding the People's Republic of China and the U.S. For
more information, see www.pmi.com.
SOURCE: Philip Morris International Inc.
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