Philip Morris International's Egyptian subsidiary is raising prices on all its heated tobacco products and cigarettes, Egypt Daily News reported.
Cigarette prices in Egypt have been rising for some time as the government raises taxes to curb smoking, and now Philip Morris has announced it will also increase the prices of its products. Merit cigarettes now cost £85 ($2.75) a pack, Marlboros for £79 ($2.55), Marlboro Handmade cigarettes for £69 ($2.23) and L&M cigarettes for £59 ($1.91). HEETS Select, HEETS sizes and TEREA sticks retail for £64 ($2.07) per pack.
Philip Morris International is actively working towards a smoke-free future and transforming its product portfolio to include products beyond smoke and nicotine. It is reported that since 2018, the company has invested US$12.5 billion in developing and commercializing scientifically proven smoke-free products with the goal of ending the sale of cigarettes.
Ali N. Karaman, Managing Director of Egypt and the Levant, said: “The company is continuously working to meet the needs of adult smokers and nicotine users in the Egyptian market and support the transition to a smoke-free future in line with the company’s ambitious strategy.”
The company said the new prices will be clearly displayed on product packaging via QR codes and called on retailers and distributors to comply with the new prices.
