Marlboro maker Phillip Morris is wanting on the smoke-free hashish choices

Phillip Morris, the international tobacco company behind the Marlboro cigarette brand, is considering entering the cannabis industry.

In an interview with Bloomberg News, Andre Calatzopoulos, CEO of Phillip Morris said they intend to expand into the cannabis market with their own smoke-free product. Although still hesitant to enter the growing market due to a lack of regulation, Phillip Morris is researching the efficacy of cannabis as well as the various medicinal and consumer cannabis products currently on offer.

“We do all of this work and one day we will determine which paths to take. But our priority is what we do with our smoke-free products, and that’s where I would stick with cannabis, ”Calatzopoulos told Bloomberg News.

Tobacco companies entering the cannabis industry

Phillip Morris isn’t the only tobacco company currently interested in entering the cannabis industry. In early 2021, British American Tobacco invested in Organigram Holdings Inc. to manufacture CBD products, and in 2018, American Marlboro retailer Altria Group invested in Canadian cannabis company The Cronos Group.

Phillip Morris’ expansion into the smokeless cannabis market wouldn’t be the first time they’ve invested funds in the cannabis industry. In 2016, the company invested in Israel-based medical cannabis company Syqe Medical to obtain exclusive technology rights to an inhaler manufactured by Syqe Medical. While the inhalers manufactured by Syqe Medical were originally developed for medical cannabis use, Phillip Morris acquired the technology rights to manufacture a high-precision dosage product for the smoke-free tobacco industry.

Cannabis products part of a broader product expansion strategy

Phillip Morris’ vested interest in cannabis products is part of a broader strategy the company embarked on earlier this year.

The tobacco company, called “Beyond Nicotine”, plans to expand its product line beyond smoking and nicotine products. Since the inception of the strategy, Phillip Morris has started adding plant-based products to its line of products as the company seeks to reduce cigarette consumption by offering other healthier alternatives and smoke-free nicotine products.

Since announcing the Beyond Nicotine strategy, Phillip Morris has set a goal of $ 1 billion in net sales for its non-nicotine product lines for the next 4 years. If these products are successful, they will outperform their current tobacco products in net sales and create the largest revenue producers for Phillip Morris.

Additional resources:

At The Weed Blog, we strive to produce the latest online marijuana news sources. We also review different strains of cannabis or other edible counterparts. We want to help you find valuable information about marijuana on our website. Learn from us what you can do to promote activism in your area as marijuana laws are constantly changing. Otherwise, consider these other top notch cannabis items:

Texas marijuana decriminalization bill will soon be passed in the Senate

Schumer says his federal marijuana law will legalize marijuana the “right way”.

The best Cannamom gifts for Mother’s Day 2021

Comments are closed.