Philip Morris International: The Beginning of the End?

As Philip Morris International (PMI) shareholders meet online this week, the world’s health is in a precarious position, but so too is PMI. Already dealing with a long-term decline in its core business as people turn away from smoking, it now faces two new external crises (COVID-19 and the associated major economic recession) and a failure to diversify its tobacco-related products compared with other tobacco companies, which should concern investors.

Prof Anna Gilmore and Dr Rob Branston from the University of Bath consider whether this is the beginning of the end for PMI.