***bookmark me at: immovable as a mountain (a filipino trend follower's blog)
23 JUL 2020
US FDA authorizesmarkeing of IQOS
Speaking of giants, taipan Lucio Tan’s empire has gotten a boost after the US Food and Drug Administration (FDA) recently authorized the marketing of IQOS — Philip Morris International’s (PMI) electrically heated tobacco system — as a modified risk tobacco product.
The taipan’s Fortune Tobacco and PMI are partners in PMFTC, the top cigarette company in the Philippines.
In 2019, earnings of Tan’s holding company LT Group reached a record high of P23.1 billion, up 43 percent, with the cigarette business accounting for 67 percent.
With the US FDA’s move, I’m sure PMFTC will eventually bring in PMI’s heated tobacco product in the country and further grow its business with the addition of heated tobacco products.
But I don’t think PMFTC would replace its entire cigarette line-up with these alternative products, although I don’t know for sure.
IQOS is the first and only electronic nicotine product to be granted marketing orders as a modified risk tobacco product.
“The FDA’s decision is a historic public health milestone. Many of the tens of millions of American men and women who smoke today will quit — but many won’t. Today’s decision makes it possible to inform these adults that switching completely to IQOS is a better choice than continuing to smoke,” said André Calantzopoulos, PMI CEO.
He said that because there is no combustion of tobacco with IQOS, it produces less harmful substances.
PMI submitted its application in December 2016, which went through a long tedious process with the US FDA including clinical studies.
As of March 31, PMI estimates that approximately 10.6 million adult smokers around the world have already stopped smoking and switched to IQOS.
Calantzopoulos believes that the US FDA’s authorization would help PMI further accelerate the transition of American adults away from cigarettes.
Will the same thing happen in the Philippines? I can’t imagine Filipinos in poorer communities shifting to IQOS, which is a pricey device. As I’ve said before the best alternative really is to totally quit smoking.
But the US FDA’s decision, just the same, is welcome news.
01 JUL 2020
Lucio Tan firm sets P7-billion capex, takes ‘guarded’ outlook
https://www.bworldonline.com/lucio-tan-firm-sets-p7-billion-capex-takes-guarded-outlook/
20 MAR 2020
LTG nets P23B
https://business.inquirer.net/293050/ltg-nets-p23b
12 MAR 2020
LT Group’s board approves P2-B share buyback
https://www.bworldonline.com/lt-groups-board-approves-p2-b-share-buyback/
19 FEB 2020
Eton Properties not for sale — Tan Say
https://www.philstar.com/business/2020/02/18/1993916/eton-properties-not-sale-tan-say
17 DEC 2019
Lucio Tan’s ‘First Family’ tightens grip on power
https://bilyonaryo.com.ph/2019/12/16/lucio-tans-first-family-tightens-grip-on-power/
18 NOV 2019
Phillip Morris: heated cigarette tax should reflect ‘lower risk’
https://www.bworldonline.com/phillip-morris-heated-cigarette-tax-should-reflect-lower-risk/
16 JUL 2019
Carmen Tan firms up control of Lucio Tan Group board with entry of daughter Vivienne, ally Mary Ng
https://www.bilyonaryo.com.ph/2019/07/16/carmen-tan-firms-up-control-of-lucio-tan-group-board-with-entry-of-daughter-vivienne-ally-mary-ng/
18 JUN 2019
Lucio Tan to venture into LNG
https://www.philstar.com/business/2019/06/17/1927016/lucio-tan-venture-lng
02 JUN 2019
Tanduay opens 1st restaurant
https://www.bworldonline.com/tanduay-opens-1st-restaurant/
20 MAY 2019
Cigarette industry targeted for death by sin tax
https://www.bworldonline.com/cigarette-industry-targeted-for-death-by-sin-tax/
12 MAY 2019
Earnings of LT Group jump 22% in first 3 months
https://www.bworldonline.com/earnings-of-lt-group-jump-22-in-first-3-months/
09 MAY 2019
LT Group allocates P19 billion for capex
https://www.bworldonline.com/lt-group-allocates-p19-billion-for-capex/
25 APR 2019
Eton Properties net income surges 38% in 2018
https://www.bworldonline.com/eton-properties-net-income-surges-38-in-2018/
29 DEC 2018
LT Group to restart Asian Alcohol operations
https://www.bworldonline.com/lt-group-to-restart-asian-alcohol-operations/
26 SEPT 2018
Tan group beefs up infrastructure capital
https://www.bworldonline.com/tan-group-beefs-up-infrastructure-capital/
27 AUG 2018
Absolut Distillers sets P1.3-B expansion plan
http://www.bworldonline.com/absolut-distillers-sets-p1-3-b-expansion-plan/
14 AUG 2018
LTG’s Q2 attributable profit hits P5.3B
http://www.bworldonline.com/ltgs-q2-attributable-profit-hits-p5-3b/
05 AUG 2018
Tanduay, Shopee partner to launch online store
http://business.inquirer.net/255066/tanduay-shopee-partner-launch-online-store
14 JUN 2018
Tanduay overtakes Bacardi as world’s best-selling rum brand
http://bworldonline.com/tanduay-overtakes-bacardi-as-worlds-best-selling-rum-brand/
12 MAY 2018
Tabacco, banking boost LT Group’s Q1 profits
http://bworldonline.com/tabacco-banking-boost-lt-groups-q1-profits/
09 MAY 2018
LT Group spending P10-billion amid challenges
http://www.thestandard.com.ph/business/corporate/265140/lt-group-spending-p10-billion-amid-challenges.html
17 MAR 2018
LT Group profit rises 15% in 2017 lifted by PNB
http://bworldonline.com/lt-group-profit-rises-15-2017-lifted-pnb/
13 FEB 2018
Duterte on Lucio Tan: OK na sa akin
http://www.gmanetwork.com/news/money/companies/643257/duterte-on-lucio-tan-ok-na-sa-akin/story/
06 DEC 2017
7 firms eye 'super consortium' for NAIA modernization
http://news.abs-cbn.com/business/12/05/17/7-firms-eye-super-consortium-for-naia-modernization
11 NOV 2017
LT Group income up 9% in 9 months
http://www.philstar.com/business/2017/11/11/1757583/lt-group-income-9-9-months
26 OCT 2017
Eton completes 5th BPO building in Quezon City
http://bworldonline.com/eton-completes-5th-bpo-building-quezon-city/
11 SEPT 2017
Lucio Tan’s wish at 83: The easy life
http://www.philstar.com/business/2017/09/11/1737733/lucio-tans-wish-83-easy-life
15 JUL 2017
JTI-Mighty buyout talks drive up LT Group stocks
http://www.philstar.com/business/2017/07/15/1719596/jti-mighty-buyout-talks-drive-lt-group-stocks
27 JUN 2017
LT Group opens up to more partnerships
http://www.philstar.com/business/2017/06/27/1713895/lt-group-opens-more-partnerships
21 JUN 2017
LT Group sets P10-B capex for firms’ expansion efforts
http://www.bworldonline.com/content.php?section=Corporate&title=lt-group-sets-p10-b-capex-for-firms-expansion-efforts&id=147050
05 JUN 2017
Biz Buzz: ‘Kapitan’ joins airport fray
http://business.inquirer.net/230764/biz-buzz-kapitan-joins-airport-fray
01 JUN 2017
Eton allots P5 B for 2017 capex
http://www.philstar.com/business/2017/06/01/1705433/eton-allots-p5-b-2017-capex
20 MAY 2017
LT Group shares fall after Duterte signs smoking ban
http://news.abs-cbn.com/business/05/19/17/lt-group-shares-fall-after-duterte-signs-smoking-ban
14 MAY 2017
LTG nets P2.25B
http://business.inquirer.net/229511/ltg-nets-p2-25b
18 MAR 2017
LT Group net income grows 42% in 2016
http://www.bworldonline.com/content.php?section=Corporate&title=lt-group-net-income-grows-42%-in-2016&id=142369
16 JAN 2017
LT Group to continue push in renewable energy
http://www.philstar.com/business/2017/01/16/1662953/lt-group-continue-push-renewable-energy
