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DrugScreening.org


 
Altria May Spin Off International Cigarette Business
August 27, 2007

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News Summary

Philip Morris parent Altria Group is considering a plan to spin off its Philip Morris International business while retaining control of Philip Morris USA.

The New York Times reported Aug. 25 that the company views the move as a way to expand its tobacco business more aggressively worldwide without being fettered by tough U.S. regulations and potential litigation.

"This is something that has been in the works for years," said Bonnie Herzog, a tobacco industry analyst at Citigroup. "To me, it's a done deal."

"It allows Philip Morris International to become much more free to pursue growth opportunities," added Herzog.

 

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