According to a report by Newsday on December 10th, Philip Morris International (PMI) Trinidad and Tobago (PMTT) stated in a press release commemorating the one-year anniversary of its smoke-free product launch that their e-cigarette brand Veev Now, introduced a year ago, has helped Trinidad and Tobago reduce the burning of approximately 2.5 million cigarettes.
Thomas Ayala, General Manager of PMI in the Caribbean region, stated that Trinidad and Tobago has been positioned as an innovative hub for PMI to invest in new tobacco products and other business ventures throughout Central America and the Caribbean. PMI has expanded the distribution of these products in the region.
PMTT also highlighted its sustainable development plan, including a partnership with waste management company Piranha International Ltd to recycle used Veev Now devices.
It is reported that PMI has invested over $12.5 billion in the research, scientific validation, and commercialization of new tobacco products. By mid-2024, their new tobacco products have been sold in 90 markets worldwide, with an estimated 36.5 million adult users. In the first half of 2024, new tobacco products accounted for 38% of net revenue.
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