Philip Morris USA has supported tough but reasonable federal regulation of tobacco products by the Food and Drug Administration (FDA) for over seven years. We believe that such tough but reasonable federal regulation can benefit shareholders and other stakeholders by ensuring that all tobacco manufacturers and importers doing business in the U.S. operate at the same high standards; by providing a framework for the further pursuit of tobacco product alternatives that are less harmful than conventional cigarettes; and by ensuring transparent, accurate communication about tobacco products to consumers. We remain committed to securing these benefits for our consumers, shareholders and other stakeholders.
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