Philip Morris CEO says vaping crisis is 'very emotional' and will result in tightly regulated market

Kiyoshi Ota | Bloomberg | Getty Images

Philip Morris International CEO André Calantzopoulos said the vaping health crisis sweeping across the U.S. right now is highly emotional and will result in a tightly regulated market within the next two to three years. "It is a very emotional issue as we know because it involves use by teenagers and vaping and this should be the priority by everybody to address because this is a serious issue," he told CNBC'sin an interview Thursday. By the end of 2021 or 2022 "we will see a highly regulated market in terms of product, marketing and other restrictions."

He avoided saying whether the surge in regulatory scrutiny and investigations into market leader Juul played a factor in the company's decision to abandon merger talks with"In any merger, you have to take into consideration the environment, shareholder sentiment, and I would say the effort required versus the priorities we have just now on the market," he said.

Please Philip Morse is behind all of this they are not a good corporate citizen by any stretch of the imagination. They are a Slave legacy company

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Philip Morris International CEO on ending merger talks with AltriaWould Philip Morris and Altria have reached a deal if there wasn’t a crackdown on vaping? Here’s what the CEO of Philip Morris International had to say in his exclusive interview with davidfaber.
Source: CNBC - 🏆 12. / 72 Read more »

Philip Morris and Altria end merger talks following chilly response from investorsPhilip Morris International and Altria have called off discussions to reunite the tobacco giants — a merger of equals that received a chilly reception from investors. Tobacco companies need to be ostracized and their products pulled from the shelves. If vap cigs are bad so are cigarettes and alcohol. generally stop producing this poison ... it probably burns oxygen per day comparable to gasoline cars Why did they split in the first place?
Source: CNBC - 🏆 12. / 72 Read more »

Philip Morris and Altria end merger talksThe companies also said they would focus on jointly launching an only-heated tobacco product called IQOS.
Source: CNBC - 🏆 12. / 72 Read more »

Philip Morris International And Altria Call Off $200 Billion Merger
Source: Forbes - 🏆 394. / 53 Read more »

Philip Morris, Altria call off mergerPhilip Morris International Inc has abandoned merger talks with Altria Group Inc... Could it be the impending storm of law suits and regulations No need to merge now that the vaping ban will be shoveling piles of money BACK to Philip Morris. Vaping bans should be awarded the cigarette salesman of the year award.
Source: Reuters - 🏆 2. / 97 Read more »