As Philip Morris International (PMI) eyes a possible entry into the cannabis market, it has not determined its next move.
PMI is looking at the potential pharmaceutical and consumer plays and assessing such factors as cannabis benefits and risks. In an interview with Bloomberg, PMI c.e.o. Andre Calantzopoulos, said, “We are doing all this work and will determine one day what avenues to pursue. But, our priority is what we’re doing with our smoke-free products, and that’s where I would stay on cannabis.”
Five years ago, PMI invested US$20 million into Israeli company Syqe Medical, a then-startup that does not focus exclusively on medical cannabis, but rather has developed an underlying technology that allows for inhalation of some drugs. The company has since developed an inhaler that allows medical marijuana and other therapeutic products to be delivered in precise doses. That being said, PMI has not yet ventured specifically into the cannabis space.