Philip Morris is aiming to generate more than 50% of its net revenues from smoke-free products by 2025. Vaping alternatives to cigarettes will account for some smoke-free sales, but Philip Morris wants at least $1 billion of its revenues to come from nicotine-free products. That goal has spurred a flurry of deals in the healthcare sector.
On Monday, Philip Morris disclosed its third move to buy a company in recent weeks. The takeover of OtiTopic gives Philip Morris control of a heart attack treatment that it expects to file for FDA approval next year.
