The company is assessing factors like the toxicity of cannabis, efficacy and differences between pharmaceutical and consumer options, Chief Executive Officer Andre Calantzopoulos told Bloomberg News Tuesday.
The comments hint at a possible shift for a company that has kept to the sidelines of the marijuana market, even as other cigarette companies have jumped in.
Philip Morris invested five years ago in an Israeli medical cannabis company, Syqe Medical, but that wasn’t tied directly to marijuana products.
If Philip Morris opts to pursue cannabis, it could be part of the company’s “Beyond Nicotine” strategy, which includes adding botanicals to expand risk-reduced products with new flavors like cloves, star anise or chamomile.
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