Philip Morris International is looking at buying nicotine gum maker Fertin Pharma, Bloomberg reported on June 17, citing people with knowledge of the matter. The Danish firm is owned by private equity group EQT and could be worth around 600 million euros, including debt, the news agency said.
Philip Morris International aims for smoke-free products, such as its IQOS tobacco-heating stick, to account for more than half of its revenue by 2025. It also wants to build a non-nicotine business to administer drugs and plant extracts, generating revenue of $1 billion in 2025.A man poses for a photograph while using a Philip Morris iQOS smoking device, in Bogota, Colombia November 14, 2017.
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