F1 Grand Prix Highlights PMI's Push for Innovation and Regulation in a Smoke-Free Future
Source: news.source.mb
The Japanese Grand Prix 2025 at Suzuka Circuit served as a backdrop for Philip Morris International (PMI) to showcase its commitment to innovation and regulation, drawing parallels between Formula 1 and its own industry. PMI, in partnership with Ferrari, used the event to highlight its progress towards a smoke-free future, including significant market growth in Japan and global investments in smoke-free products. The event also featured discussions on future-proofing innovation and the impact of PMI's initiatives on youth access prevention and environmental sustainability.
Key Points
PMI leverages its partnership with Ferrari at the F1 races to build relationships and showcase its commitment to innovation and regulation.
PMI draws parallels between the highly-regulated F1 industry and its own, emphasizing the role of innovation in competition and achieving a smoke-free future.
Japan, particularly Nagoya, is highlighted as a significant market for PMI, where IQOS was launched and has led to nearly 8 million smokers quitting.
PMI has invested over US$14 billion in smoke-free products since 2008, with six global markets generating over 75% of net revenues from these products.
PMI's efforts extend to youth access prevention, ensuring a living income for tobacco farmers, and achieving carbon neutrality in manufacturing facilities.
The event included a discussion on 'Future-Proofing Innovation: Bridging the Gap Between Progress and Policy' with industry experts.
Max Verstappen secured pole position at the Japanese Grand Prix, showcasing the competitive nature of F1.
