Since 2008, PMI has invested more than USD 10.5 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies.

As of June 30, 2023, PMI's smoke-free products were available for sale in 80 markets and accounted for approximately 35.4% of PMI’s total second-quarter 2023 net revenues. In November 2022, PMI acquired Swedish Match, a leader in oral nicotine delivery. With a strong foundation and significant expertise in life sciences, PMI additionally announced in February 2021 its ambition to expand into wellness and healthcare areas and, through its Vectura Fertin Pharma business, aims to enhance life through the delivery of seamless health experiences.