Seek net positive impact in wellness and healthcare

As we work to become a company that has a net positive impact on society, we believe in the importance of continuing to invest in a future that allows us to expand our offerings to products that are suited to address critical unmet consumer and patient needs within the wellness and healthcare space.

 

 

Water in a blue pool

Our 2025 Roadmap goals

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SEEK NET POSITIVE IMPACT IN WELLNESS AND HEALTHCARE

Lay the foundation to evolve into a broader lifestyle, consumer wellness, and healthcare company in the long term

Key performance indicators to track our progress

Lay the foundation to evolve into a broader lifestyle, consumer wellness, and healthcare company in the long term
Progress with challenges
While we focus in the short- to medium-term on capitalizing on our smoke-free products’ growth potential, we remain convinced of the longer-term potential of our wellness and healthcare business.
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Learn more about PMI’s Sustainability Index in our Integrated Report 2023. See the full performance metrics and related footnotes here.

THE RIGHT THING TO DO

Researching and developing smoke-free alternatives that are scientifically substantiated to be less harmful than cigarettes was the first step in our journey to address our most significant negative externality: the impact of cigarette smoking on health.

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The right thing to do

Researching and developing smoke-free alternatives that are scientifically substantiated to be less harmful than cigarettes was the first step in our journey to address our most significant negative externality: the impact of cigarette smoking on health.

In the process, we have expanded our social, human, intellectual, and manufactured capital in ways that allow us to move from a value proposition centered on doing less harm toward one where we can seek to have a net positive impact on society. With an eye on the long term, we intend to use this capital to develop adjacent avenues of growth in wellness and healthcare.

PMI’s investment and innovation approach in wellness and healthcare is part of a larger transformation that puts science, technology, and sustainability at the heart of our Company’s future. We aim to deliver products and solutions that improve people’s lives.

To achieve this objective, we will rely on and expand our existing core capabilities and seek partnerships with respected entrepreneurs and companies that offer complementary experience and qualifications in relevant fields.

THE BUSINESS CASE

As described in our Statement of Purpose, with a longer horizon in sight, the critical next step in PMI’s transformation is leveraging our expertise and capabilities to expand into products beyond tobacco and nicotine as part of a natural evolution into a broader wellness and healthcare business.

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The business case

As described in our Statement of Purpose, with a longer horizon in sight, the critical next step in PMI’s transformation is leveraging our expertise and capabilities to expand into products beyond tobacco and nicotine as part of a natural evolution into a broader wellness and healthcare business.

Leveraging our Company’s expertise in aerosol chemistry and physics, best-in-class preclinical safety and toxicology and clinical research capabilities, and continued investment in our capabilities and R&D programs, we intend to develop and responsibly commercialize innovative and differentiated products to address unmet patient and consumer needs.

Although we are at the beginning of this journey, our intention is set: we are transforming our Company to ultimately have a net positive societal impact. Pursuing adjacent avenues of growth by tapping into the skills and assets we have accrued and developed over the course of our transformation will bring long-term value.

Water in a blue pool

Our progress in 2023

Read more in our Integrated Report
Related articles, case studies, and videos
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Impact of PMI’s expansion in wellness and healthcare on different forms of capital

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Statement of Purpose cover thumbnail

PMI’s Statement of Purpose

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Jacek Olczak_thumb
Sustainability is the core of our company’s transformation

Meet the people of PMI

My name is Catherine Goujon.

I'm working in Neuchatel

and I'm Head of Chemistry Research.

My contribution to the smoke-free future

is to deliver robust, reliable science,

and to be recognized by the scientific community.

To do so, we publish our data,

we participate in conferences worldwide,

in order to make sure that we expose

what we do to the scientific community.

A typical day for me is full of meetings.

Meetings to track progress

in our projects,

meetings to identify obstacles or barriers

that I can help remove.

Also connection with my peers,

my stakeholders,

in order to prepare the project to come

and the next milestone.

The best part of my job is that

I'm learning something new every day.

I trust in collective intelligence,

so collaborating with bright scientists

with different people,

with different expertise is a big source of satisfaction for me.

My slogan in life is,

"If you want to go fast, go alone.

If you want to go far, go together".

I think the PMI transformation

is happening, and it's with all the contributions

that we will make it happen.

JPG-800width-PMI Science Cube
PMI announces ambition to become a more than two-thirds majority smoke-free company by 2030 4 min read
Championing well-being in the workplace
Related reports, policies, and documents

Sustainability KPI protocol 2023

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Looking ahead

Jacek Olczak, Chief Executive Officer

Some years ago, we opened a chapter we called “beyond nicotine,” which we presented externally as “seeking net positive impact in wellness and healthcare.” When we began communicating about “beyond nicotine” and started crafting an ambitious long-term vision for our business, we did not know exactly how it would unfold.

Unfortunately, how some vocal organizations in the external environment have reacted to PMI entering this space has delayed our ability to fully harness the potential of the assets and capabilities we have built over our transformation journey. Against this backdrop, we are exploring different configurations that could allow us to maximize these in the future.

While we will continue to explore the potential expansion of our offerings in the wellness and healthcare space, our current priority is on developing and commercializing science-based smoke-free products—especially as we prepare to enter the U.S. with IQOS. We remain convinced that this business can provide a very sizable, yet long-term, potential—especially in the field of pharmaceutical, medical, and consumer wellness segments.

This online content about our Integrated Report should be read in conjunction with PMI’s Integrated Report 2023. This report includes metrics that are subject to measurement uncertainties due to inherent limitations in the nature and methods for data collection and measurement. The precision of different collection and measurement techniques may also vary. This report includes data or information obtained from external sources or third parties. Unless otherwise indicated, the data contained herein cover our operations worldwide for the full calendar year 2023 or reflect the status as of December 31, 2023. Where not specified, data comes from PMI financials, nonfinancials, or estimates. Unless explicitly stated, the data, information, and aspirations referenced in online content do not incorporate PMI’s wellness and healthcare business, Vectura Fertin Pharma. Regarding the Swedish Match acquisition, completed late 2022, unless otherwise indicated, online content does not include information pertaining to their sustainability performance. Please also refer to "This report at a glance" on page 2 of PMI's Integrated Report 2023 for more information. Aspirational targets and goals do not constitute financial projections, and achievement of future results is subject to risks, uncertainties and inaccurate assumptions, as outlined in our forward-looking and cautionary statements on page 214. In PMI's Integrated Report 2023 and in related communications, the terms “materiality,” “material,” and similar terms are defined in the referenced sustainability standards and are not meant to correspond to the concept of materiality under the U.S. securities laws and/or disclosures required by the U.S. Securities and Exchange Commission.

 

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