Philip Morris Pledges $1 Billion to Fight Smoking
- Former WHO antitobacco official Derek Yach to lead program
- Foundation to fund research, measure progress against smoking
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Philip Morris International Inc. said it will spend about $1 billion setting up a foundation to reduce the prevalence of smoking as the maker of Marlboro cigarettes aims to convert smokers into consumers of devices that don’t burn tobacco.
Derek Yach, a former World Health Organization official who worked on a global tobacco treaty, will lead the group, according to a statement Wednesday. The cigarette maker said it plans to spend about $80 million annually over 12 years on the project, starting in 2018.