With the globalization of the cannabis industry, some of the world’s largest corporations have begun to reveal their ambitions. Among them is Philip Morris International (PMI), the world’s largest tobacco company by market capitalization and one of the most cautious players in the cannabis sector.
Philip Morris Companies Inc. (PMI) is not only the world’s largest tobacco manufacturer (best known for its Marlboro brand) but also the second-largest food producer globally. The company operates across tobacco, food, beer, finance, and real estate, with five major subsidiaries and over 100 affiliated companies worldwide, conducting business in more than 180 countries and regions.
While peers like Altria and British American Tobacco (BAT) have made high-profile moves in the recreational cannabis market, PMI has adopted a more low-key and meticulous approach: focusing on medical cannabis, forming R&D alliances, and testing products in tightly regulated markets like Canada.
Though often overlooked, PMI’s cannabis strategy is beginning to take shape, with recent partnerships suggesting this is just the beginning.
A Decade in the Making: PMI’s Long-Term Cannabis Strategy
PMI’s interest in cannabis dates back nearly a decade. In 2016, it made a strategic investment in Syqe Medical, an Israeli company known for its precision-dosed cannabis inhalers. This investment culminated in a full acquisition in 2023, marking PMI’s first major cannabis purchase.
Fast forward to 2024–2025, PMI expanded its market presence through its pharmaceuticals and wellness subsidiary, Vectura Fertin Pharma:
A. In September 2024, Vectura launched its first cannabis product, Luo CBD lozenges, distributed through a partnership with Aurora Cannabis Inc. (NASDAQ: ACB) and its Canadian medical platform.
B. In January 2025, PMI announced a medical and scientific collaboration with cannabinoid-focused biopharmaceutical company Avicanna Inc. (OTC: AVCNF) to further research and patient access via Avicanna’s MyMedi.ca platform.
“PMI has consistently expressed interest in the medical cannabis space,” said Aaron Gray, a director at Global Partnerships, in a Forbes interview. “This appears to be a continuation of that strategy.”
Medical First, Recreational Later
PMI’s strategy contrasts sharply with Altria’s $1.8 billion investment in Cronos Group and BAT’s C$125 million partnership with Organigram, both of which focused on consumer goods or adult-use cannabis.
In comparison, PMI is currently avoiding the recreational market and concentrating on evidence-based, dose-controlled therapies suited for healthcare systems. Its partnership with Avicanna exemplifies this: the company collaborates with SickKids Hospital and the University Health Network and was once part of Johnson & Johnson’s JLABS incubator.
“This is a long-term play,” Gray noted. “Big Tobacco sees shifting usage trends among younger consumers, moving away from tobacco and alcohol toward cannabis, and PMI is positioning itself accordingly.”
PMI’s recent activities have centered on Canada, where federal regulations allow robust medical cannabis distribution and clinical validation. Its 2024 partnership with Aurora introduced a novel dissolvable CBD lozenge, manufactured by Vectura’s subsidiary Cogent and distributed through Aurora’s direct-to-patient network.
Michael Kunst, CEO of Vectura Fertin Pharma, stated in a release, “This launch will allow us to make a meaningful impact on patients and validate our product claims through real-world patient data.”
Meanwhile, the Avicanna partnership helps PMI integrate into Canada’s pharmacist-led medical system, aligning with its reputation-driven, regulation-first approach.
Playing the Long Game
Dan Ahrens, Managing Director of AdvisorShares, commented, “Given the limited activity we’ve seen from PMI so far, we believe companies like PMI are waiting for broader regulatory clarity, particularly in the U.S.”
“The pace and scale of consolidation will be influenced by the regulatory environment,” added Todd Harrison, founder of CB1 Capital, in Forbes. “But this is further proof that traditional consumer goods companies will eventually enter this market.”
Clearly, rather than chasing high-visibility consumer trends, PMI is investing in manufacturing infrastructure, product validation, and establishing a presence in the medical cannabis sector. In doing so, it is laying the groundwork for a lasting role in the global cannabis market—one built not on flashy branding but on science, patient access, and regulatory credibility.
Post time: May-17-2025