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Why would a health care ETF invest in Phillip Morris?
Reads like a letter to shareholders. PMI touts its efforts to become more health oriented, noting its recent acquisition of some businesses related to pharmaceuticals.
A particularly interesting line …
”We also acknowledge that we have received criticism from medical societies about these acquisitions.”
Just came across the discussion elsewhere and it got me to wondering. As far as PINK (etf) goes, it also makes sense to me that the manager might want to hedge his large position in health promoting companies with a small stake in a company known more for harming health.
The report mentioned pharmaceutical are the smoke-free products (vaping, nicotine patch and chewing gum), but without saying they are for treating nicotine addiction.
Medical marijuana makes a better case as a medicine than that of nicotine.
Philip Morris International (PM) as one of the most remarkable examples in the author's portfolio of a company with the capacity to reinvest and transform itself. Over the past 14 years, PM has invested aggressively into developing Reduced Risk Products (RRPs) like IQOS, VEEV ONE, and ZYN. IQOS, its flagship heat-not-burn product, is now a major success in Japan and expanding in Western Europe.
I'm reminded of the 'Yes Prime Minister' episode called 'The Smoke Screen' where the Minister of Sport (a portly man who smokes and coughs up a lung) who's in-bed with the tobacco lobby becomes the Minister of Health.
Comments
”A case study from PMI’s Integrated Report 2021.”
Reads like a letter to shareholders. PMI touts its efforts to become more health oriented, noting its recent acquisition of some businesses related to pharmaceuticals.
A particularly interesting line …
”We also acknowledge that we have received criticism from medical societies about these acquisitions.”
Just came across the discussion elsewhere and it got me to wondering. As far as PINK (etf) goes, it also makes sense to me that the manager might want to hedge his large position in health promoting companies with a small stake in a company known more for harming health.
Must have been a smart prof. How true.
Medical marijuana makes a better case as a medicine than that of nicotine.
To wit:
if i recall, PINK is run for charity and offers irregular commentary on specific positions.