FDA OKs Philip Morris modified risk tobacco product IQOS

The FDA approves Philip Morris’ (PM -1.4%) IQOS Tobacco Heating System, the second set of modified risk tobacco products (MRTPs) to receive the agency nod.

IQOS tobacco products are the first to receive “exposure modification” orders, which permits the marketing of a product as containing a reduced level of or presenting a reduced exposure to a substance or as being free of a substance when the issuance of the order is expected to benefit the health of the population.

The orders cover noncombustible cigarette products, including Marlboro Heatsticks, Marlboro Fresh Menthol Heatsticks and Marlboro Smooth Menthol Heatsticks.

FDA approval requires PM to conduct postmarket surveillance and studies to determine whether MRTP orders continue to be appropriate, including assessing the potential for increased use among youth.

Related tickers: British American Tobacco (BTI -1.1%), Altria (MO -0.8%), Imperial Brands (OTCQX:IMBBY -2.0%)

https://seekingalpha.com/news/3589145-fda-oks-philip-morris-modified-risk-tobacco-product-iqos