Philip Morris International Inc.
Philip Morris International Settles Patent Dispute with British American Tobacco
Summary
On February 1, 2024, Philip Morris Products S.A., a subsidiary of Philip Morris International Inc., entered into a global settlement agreement with Nicoventures Trading Limited, a subsidiary of British American Tobacco p.l.c. The agreement resolves all ongoing patent infringement litigation related to heated tobacco and vapor products. The settlement allows both parties to innovate and introduce new products while preventing future claims on current products. The settlement also includes a request to rescind certain orders issued by the International Trade Commission. The press release announcing the settlement is furnished as Exhibit 99.1.
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About Philip Morris International Inc.
Philip Morris International Inc. is a leading global tobacco company primarily engaged in the manufacture and sale of cigarettes and other nicotine-containing products. Known for owning some of the world's best-selling cigarette brands like Marlboro, Philip Morris International plays a significant role in the consumer goods sector. The company's strategic focus includes developing smoke-free alternatives such as heated tobacco systems and e-cigarettes, addressing shifting consumer preferences and regulatory landscapes. Headquartered in New York City, Philip Morris operates in over 180 countries, showcasing a robust international presence. The firm is noteworthy for its commitment to transforming public health narratives within the tobacco industry by advocating for reduced-risk products. As part of its market significance, Philip Morris International drives innovation in tobacco products, influencing regulatory frameworks and competitive dynamics in the global market.
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