14 May 2015
The good news was the corporation’s dreadful performance: since 2012, PMI’s profits have dropped over 16 percent and sales have declined by more than 7.5 percent. 2014 was its worst year yet, reported CAI.
“Philip Morris International is on the ropes and the global t obacco treaty can be thanked for it,” said John Stewart of FCA member Corporate Accountability International, “Around the world countries are implementing its lifesaving measures and they’re working—smoking rates are on the decline and Big Tobacco has never been more of a pariah than it is today.”
Unfortunately, PMI officials vowed to shareholders to continue PMI’s aggressive litigation and lobbying campaigns to stop the plain packaging of tobacco products.
The corporation sued the Australian Government after it adopted the measure in 2012, but that has not stopped other governments from going forward with the plan (which removes logos, colours and all other branding from packages).