- I'm very happy we bring IQOS to 43 million Americans who smoke today. Altria, our ex-parent company and exclusive distribution licenser, will start in one city and then expand after that, but we need to learn first.
- We offer an alternative to e-vapor products to people who would otherwise continue to smoke.
- For the international perspective, a successful product in the U.S. also helps the rest of the world.
- The research – pre-clinical and clinical – points to the fact that IQOS is better than cigarettes. The FDA has authorized the product as appropriate for the protection of public health, and they're reviewing the modified risk tobacco product application, where you can tell consumers in this country that this is better than cigarettes when and if that happens. In the rest of the world…we communicate to consumers the fact that it's better than cigarettes because that's what consumers need to know.
- With IQOS in particular, we have a 90-95% reduction in exposure to chemicals compared to cigarettes, and all other evidences point to a better product.
- Over time as this product is adopted –we celebrated 11 million users of IQOS last quarter, 8M are fully-converted and use exclusively IQOS…I think this product will have an impact on public health, positive impact.
- In terms of unit margins: IQOS has better margins than combustible products. Governments everywhere in the world recognize this is not a cigarette, they classify it in a separate category of non-combustible, or other tobacco product categories, that typically get a bit more favorable treatment.
- We have developed a portfolio of products…consumers over time have the choice to adopt one product – only e-vapor or heated tobacco – or use more than one. A little bit how you do with alcohol: you drink beer, you drink wine…you're not an exclusive user of one category.
- I think today the category that has the ability to switch people more and more permanently is heated tobacco products. If we look at the facts around the world today, we are in 48 markets and we have no issue with youth use of IQOS...But I think there is space for every product. Altria follows the same portfolio approach…I don't think we have a difference in strategy.
- The FDA together with the authorization has issued very clear marketing rules on how you commercialize these products. I think the objective here for the FDA is to maximize switching and minimize unintended use.
- Once the e-vape products go through the PMTA approval, that will help tremendously, plus all of the other measures in the U.S.: access control, education in schools…and the technology that can link a person to a device.
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