Forget about self-driving cars or online retail: The tobacco industry is trying to disrupt itself with healthier alternatives to cigarettes. The CEO of Philip Morris International himself is talking about stopping the sale of cigarettes. Giles Tulloch writes about the impact it will have on the industry, public health and its prospect for us as investors.
Vapes and Heatsticks—The Imminent Transformation of the Tobacco Industry
I believe there will come a moment in time where I would say we have sufficient adoption of these alternative products … to start envisaging, together with governments, a phase-out period for cigarettes. … I hope this time will come soon.
André Calantzopoulos, Philip Morris International CEO 30 November 2016