From: SMOKEFREE@compuserve.com
Date: Wed, 09/15/04
This article reveals Philip Morris (PM) plans to market new "reduced
risk" or "reduced exposure" cigarettes (which are probably just as
hazardous as other cigarettes) as the company faces huge liability
for its "light" cigarettes (which are as hazardous as other cigarettes).
If Congress enacts the PM sponsored FDA tobacco legislation, PM is
poised to receive approval from the FDA to make [per Section 911(g)(2)]
"an explicit or implicit representation that such tobacco product or its
smoke contains or is free of a substance or contains a reduced level
of a substance, or presents a reduced exposure to a substance in
tobacco smoke." As such, the safer cigarette fraud (e.g. filters, lights,
ultralights, low tar) would continue, but under FDA oversight.
Bill Godshall, Smokefree Pennsylvania
- - - - - - - -
ALTRIA: PHILIP MORRIS STILL STUDYING REDUCED-RISK PRODUCTS
By Christina Chedder Berk
Associated Press
2004-09-09
http://www.wvec.com/sharedcontent/APStories/stories/D850C7300.html
Altria Group Inc.'s Philip Morris USA and Philip Morris International
units are continuing to test reduced-risk cigarettes, said chief
financial officer Dinyar Devitre.
Speaking at Prudential Equity's Back-To-School Conference in Boston,
Devitre said any reduced-risk product will be measured against
standards for harm reduction established by the Institute of Medicine.
Earlier this year, Richmond-based Philip Morris USA said it plans to test
market a reduced-risk cigarette in the second half of this year.
During the presentation Thursday, Devitre said Philip Morris USA plans
to test market the cigarette first without reduced-risk claims to gauge
consumer interest in the product based on other factors such as taste.
The idea behind so-called reduced-risk cigarettes is to eliminate some of
the harmful components from the product. Such a product could have fewer
carcinogens and other toxins that have been linked to certain illnesses.
excerpt
Altria CFO Devitre also briefly reviewed several key lawsuits pending
against the company's U.S. tobacco business such as the Engle case in
Florida, the Price "lights" cigarette case in Illinois and the upcoming
Department of Justice racketeering suit, which is scheduled to go to
trial on Sept. 21.
Altria, Philip Morris USA, and the other tobacco companies named in the
government's racketeering suit are challenging the government's efforts to
seize $280 billion in allegedly ill-gotten profits. A federal appeals court
will hear oral arguments on this issue, which is known as disgorgement,
on Nov. 19.
Altria remains "optimistic" the D.C. Circuit Court of Appeals will support
the tobacco industry's position that "disgorgement is not a remedy,"
Devitre said.
When asked if Altria would resume stock repurchases next year, Devitre
said the company's board was still looking at the issue.
"We have many factors to consider," he said.
Altria suspended its stock repurchase program after Philip Morris USA
received a $10.1 billion judgment against it in the Price "lights"
cigarette case. The company has appealed that case to the Illinois
Supreme Court.
excerpt
.
| 
