Philip Morris International Inc. (PM) Strengthens Case for for IQOS Modified Risk Status with FDA Committee Review

Fisher Asset Management holds $2.82 million worth of Philip Morris International Inc. (NYSE:PM) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential.

To support the continuation of marketing its IQOS heated tobacco system as a Modified Risk Tobacco Product (MRTP), Philip Morris International Inc. (NYSE:PM) provided evidence to the FDA’s Tobacco Products Scientific Advisory Committee (TPSAC), as reported by Business Wire on October 8, 2025.

Furthermore, the FDA confirmed that the evidence supports the modified exposure claim, reaffirming that switching completely from cigarettes to IQOS results in a significant reduction in exposure to harmful chemicals. The session also brought Philip Morris International Inc. (NYSE:PM)’s IQOS ILUMA under review, which is the company’s next-generation model that aims to expand smoke-free alternatives among adult smokers.

Meanwhile, a month earlier, Citi placed Philip Morris International Inc. (NYSE:PM) on a “downside 90-day catalyst watch” due to ZYN destocking pressures and slower growth. However, the investment firm’s “Buy” rating with a $200 price target reflects investor confidence in the company’s smoke-free transformation.

Philip Morris International Inc. (NYSE:PM) is a leading tobacco and nicotine company. It is included in Ken Fisher’s Stock Portfolio.

While we acknowledge the potential of PM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.