On March 29th, Argentine media outlet Clarin reported that Philip Morris International (PMI) subsidiary Massalin Particulares has announced the suspension of a $300 million investment plan to produce IQOS in Argentina. This decision comes in response to Argentina's recent ban on heated tobacco products, which came into effect on March 27th.
Massalin Particulares has expressed that the Argentine Department of Health's order to prohibit the sale and promotion of heated tobacco products (PTCs) is incomprehensible and contrary to global trends. Instead of prohibition, regulation should be implemented.
According to reports, PMI operates under the name Massalin Particulares in Argentina and holds a 65% share of the cigarette market. However, PMI's heat-not-burn product IQOS has not yet officially entered the Argentine market.
As previously reported, PMI had expressed its desire for Argentina to replace traditional cigarettes with less harmful devices, such as heated non-burning devices.
Before the ban was announced, PMI had planned to invest $300 million to introduce IQOS in Argentina. Currently, PMI is only able to suspend its investment.
Tobacco company Massalin Particulares has stated that the ban on the sale of heated non-combustible products means that over 7 million adult smokers in the country will no longer have access to alternatives.
References:
【1】Philip Morris plans to stop selling cigarettes: they will be replaced by tobacco heaters. 【2】The Ministry of Health has banned the import and sale of tobacco heaters.
A multinational company has suspended a multimillion-dollar investment in the country.
Further reading:
Argentina is set to completely ban heated tobacco products.
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