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Philip Morris International Announced Agreement With Altria Group to End the Companies’ Commercial Relationship Covering IQOS in the U.S. as of April 30, 2024

Philip Morris International Inc. (PMI) (NYSE: PM) today announced an agreement with Altria Group, Inc. (Altria) to end the companies' commercial relationship covering IQOS in the U.S. as of April 30, 2024. Thereafter, PMI will have the full rights to commercialize IQOS in the U.S.

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Reported Late Wednesday, Altria Reaches Agreement With Philip Morris International For IQOS Transition; Altria To Receive Cash Payments From Philip Morris International Of ~$2.7B In Exchange For Assigning Exclusive U.S. Commercialization Rights To The…

Altria to receive cash payments from Philip Morris International of approximately $2.7 billion in exchange for assigning exclusive U.S. commercialization rights to the IQOS system effective April 30, 2024.

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