News / Stock

Philip Morris renounces cannabis but Alphie’s predictions remain bullish. Less optimistic about other tobacco stocks

Feb 11, 2019 - 14:47 UTC

Philip Morris International’s CEO André Calantzopoulos said that they will not invest in the cannabis market, a fast-growing sector that remains too risky. André Calantzopoulos, stressed that there is an insufficiency of scientific data on the long-term impact of cannabis. “We need a better scientific understanding of cannabis, because international regulators were adopting different approaches to the drug, there could be logistical and reputational risks ” he told the Financial Times. However, Calantzopoulos stated that its main objective is to obtain a more flexible regulation for the marketing and promotion of electronic cigarettes, such as the IQOS of Philip Morris…

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