SpotlightApril2019

PHILIP MORRIS STARTS LIFE INSURANCE FIRM THAT OFFERS DISCOUNTS TO SMOKERS WHO QUIT

Philip Morris International, the tobacco company that sells Marlboro cigarettes, is getting into the life insurance business. Called Reviti, the wholly owned subsidiary will initially sell life insurance in the U.K. with plans to expand into more markets overseas. Smokers will receive discounts if they stop, quit or switch to a possibly less carcinogenic product, like Philip Morris’ vaping devices.

WALGREENS RAISING AGE TO PURCHASE TOBACCO PRODUCTS TO 21 After the Food and Drug Administration put Walgreens “on notice” in February for allegedly selling tobacco products to minors. The company has responded and announced that effect Sep- tember of this year that is will be increasing the age to buy tobacco products at its drugstores to 21 year of age. CVS Health, an industry competitor, stopped selling tobacco products in 2014. Walgreens has tested a few tobacco-free stores but has stuck behind giving consumers the option to buy cig- arettes, e-cigarettes and other products if they choose and believe that increase the age limit to purchase tobacco products in their stores will keep the product out of the hand on minors.

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APRIL 2019 • SPOTLIGHT ON BUSINESS MAGAZINE

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