Philip Morris Misr, the Egyptian subsidiary of Philip Morris International, has announced price increases for all variants of its heated tobacco products (HEETS and TEREA) and conventional cigarettes (Merit, Marlboro, and L&M). "The company is continuously working hard to meet the needs of adult smokers and nicotine users in the Egyptian market and support the transition to a smoke-free future in line with the company's ambitious strategy," said Ali N. Karaman, Egypt & Levant Managing Director. The new price list is as follows: All variants of Merit will be sold officially at EGP 85 per pack. All variants of Marlboro will be sold officially at EGP 79 per pack. All variants of Marlboro Crafted will be sold officially at EGP 69 per pack. All variants of L&M will be sold officially at EGP 59 per pack. All variants of HEETS Selections will be sold officially at EGP 64 per pack. All variants of HEETS Dimensions will be sold officially at EGP 64 per pack. All variants of TEREA will be sold officially at EGP 64 per pack The company assures all adult smokers and nicotine users that the new prices are clearly displayed on product packaging via a QR code placed on packs of traditional cigarettes and heated tobacco rolls since 2022. Philip Morris Egypt calls on retailers and distributors to adhere to the announced prices. The price increase is the latest in a series of increases in cigarette prices in Egypt. In recent years, the government has raised taxes on cigarettes in an effort to discourage smoking. Philip Morris International (PMI) is a leading international tobacco company working towards a smoke-free future and transforming its portfolio for the long-term to include products outside of smoke and nicotine. The company's current product portfolio primarily consists of cigarettes and smoke-free products. Since 2008, PMI has invested USD 12.5 billion to develop and commercialize scientifically substantiated smoke-free products for adults who would otherwise continue to smoke, with the goal of ending the sale of cigarettes altogether. This includes building a world-class scientific capability for assessment, particularly in the areas of preclinical and clinical toxicology and behavioral research, as well as post-market studies. In 2022, PMI acquired Swedish Match – a leading oral nicotine company – creating a global smoke-free leader with the IQOS and ZYN brands from both companies. The U.S. Food and Drug Administration has authorized versions of PMI's IQOS Platform 1 devices and consumables and Swedish Match's General product as Modified Risk Tobacco Products. As of December 31, 2023, PMI's smoke-free products were available for sale in 84 markets, and PMI estimates that approximately 20.8 million adults around the world have already switched to IQOS and stopped smoking. Smoke-free products now represent close to 37% of PMI's total net revenues for the full year 2023.
