Argentina's Heat-not-burn Ban Causes PMI to Suspend Hundreds of Millions of dollars of Investment in IQOS

Written by Leona Zhu, edited by Mandy - On March 29, Argentine media Clarin reported that Massalin Particulares, a subsidiary of PMI in Argentina, announced the decision to suspend the planned investment of $ 300 million in the production of IQOS due to the total ban on heating non-combustible products in Argentina on March 27.

Massalin Particulares said that the Argentine Ministry of Health ordered a ban on the sale and promotion of heated tobacco products ( PTC ), which is contrary to global trends, should be regulated rather than banned.

It is reported that PMI operates in the name of Massalin Particulares, occupying 65 % of the cigarette market in Argentina. However, PMI's heated non-combustible product, IQOS, did not officially enter the Argentine market.

According to previous reports, the PMI has expressed the hope that Argentina's less harmful health equipment ( such as heating non-combustion equipment ) to replace traditional cigarettes.

Before the ban, PMI planned to invest $ 300 million to introduce IQOS in Argentina. Currently, PMI can only suspend investment.

Massalin Particulares said the ban on the sale of heated non-combustible products meant that substitutes for more than 7 million adult smokers in the country were eliminated.

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