Tomahawk, WI 06/30/2014 (Basicsmedia) – Philip Morris International, Inc. (NYSE:PM) was considered as the world’s best tobacco company a couple of days back, but now it has been deposed to the number two position. British American Tobacco PLC (AMEX:BTI) has now been crowned as the world’s top tobacco company. Philip till date occupied the top position due to its ownership of the famous Marlboro brand which American Tobacco lacks. On the contrary, American Tobaccos’ global brands like, Pall Mall, Dunhill, Lucky Strike and Kent have helped the firm to occupy the top position on the chart now.
One more reason for Philip to come down is, its Marlboro brand is available in a limited high price range. On the other hand American has divided its cigarette brands in different price tags which makes the availability of tobacco to almost everyone.
Philip Requests EU Tobacco Law Review
Philip Morris International, Inc. (NYSE:PM) has challenged the U.K. court to review the European Union tobacco law implemented on tobacco products. The business filed papers on Friday in England, requesting the judges to take the issue to the European Court of Justice to review it.
The directive, which was enforced the last month, stated that a symbolic and text health caution should be marked across 65% of its packets. Secondly menthol and other cigarette flavors should be completely banned. And thirdly, the tobacco companies should track and mark out their shipments to fight against any illegal deal.
Philip Morris International, Inc. (NYSE:PM) has requested the court to review the directive, whether it complies with EU treaties in three major fields. Starting with, whether prohibition of “truthful non misleading claims” on packets will hurt consumer’s right to information or not. Secondly, will the ban on menthol cigarettes will interrupt the internal market as it is currently legal in all 28 EU member countries. Lastly is whether the powers given to the European Commission fulfills the EU treaties or not.