A monohull is a boat or ship built with a single main body or hull, as opposed to multihull designs that use two or more separate hulls. For investors, hull type affects performance, operating costs and risk—think of a monohull like a traditional single‑engine car: generally simpler and cheaper to maintain but with different stability, speed and cargo characteristics that influence resale value, insurance, regulatory compliance and long‑term profitability.
heat-not-burnmedical
A heat-not-burn product is a consumer device that warms processed tobacco or nicotine material to generate an inhalable aerosol without burning it, similar to how a hot plate steams food instead of frying it. Investors watch these products because they can change demand for traditional cigarettes, face distinct regulatory and legal risks, and influence long-term revenue and public perception in tobacco and nicotine markets.
e-vapormedical
E-vapor is the aerosol that forms when a liquid (“e‑liquid” or “e-juice”) is heated in an electronic cigarette or vaping device; it typically contains nicotine, flavorings and other chemicals suspended as tiny droplets and particles. Investors care because the composition and perceived safety of e-vapor drive consumer demand, regulatory action, taxes, and legal risks—similar to how smoke from a campfire draws attention and rules because of health and neighborhood concerns.
pre-clinical systems toxicologymedical
Pre-clinical systems toxicology is the study of a drug or biological product’s potential harmful effects before any human testing, using a mix of laboratory experiments, animal data and computer models to look at how whole organs and body systems respond. For investors, it functions like a safety checklist and early warning system — good results reduce the chance of costly surprises, delays or regulatory setbacks, while problems can signal higher development risk and potential extra expense.
post-market studiesregulatory
Studies conducted after a medical product or device has been approved and is being sold, aimed at tracking real-world safety, effectiveness, and long-term performance. They matter to investors because their results can trigger regulatory actions, label changes, additional costs, or reputational effects—similar to ongoing vehicle safety checks that can lead to recalls or software updates and influence a company’s future sales and legal exposure.
Modified Risk Tobacco Productregulatory
A modified risk tobacco product is a tobacco or nicotine product that is marketed with claims it reduces health risks or exposure to harmful substances compared with other tobacco products; such claims are typically subject to regulatory review and approval. For investors, this matters because approved modified-risk status can change consumer demand, legal exposure, labeling requirements and market access—similar to how a government-backed “low-risk” label can alter a product’s sales and liability profile.
nicotine pouchesmedical
Nicotine pouches are small, discreet packets containing nicotine and flavoring that are placed between the lip and gum to release nicotine without burning tobacco or producing smoke. Think of them like a tiny, flavored tea bag that releases a stimulant into the mouth; they offer an alternative delivery method to cigarettes and vaping. Investors watch them because they can grow sales in markets shifting away from smoking, but they also carry regulatory, public-health and liability risks that can affect profits and market value.
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As Principal Partner, PMI will help bring to life one of Ferrari’s most ambitious projects—a symbol of pioneering innovation, technology and exploration.
STAMFORD, CT--(BUSINESS WIRE)--
Philip Morris International (NYSE: PM) today announced it will serve as Principal Partner of Ferrari Hypersail, an initiative that applies Ferrari engineering and racing spirit to a new frontier at sea. PMI has shared with Ferrari one of the most enduring partnerships in Formula 1 since its origins in 1973 - a relationship defined by reinvention, ambition, and an unwavering belief that progress matters. Philip Morris International’s commitment to science-backed innovation, including smoke-free technologies, echoes the same passion for progress that propels Ferrari Hypersail.
Hypersail serves as a platform for breakthrough ideas that can inspire new solutions across industries, including automotive engineering, energy efficiency, and advanced control systems. The Ferrari Hypersail program centers on a 30-meter (100-foot) full-foiling ocean racing monohull that is engineered to explore new frontiers of innovation, self-sufficiency and performance in ocean racing, with launch and initial sea trials scheduled for 2026. The program will be powered entirely by renewable energy, engineered through open innovation, and shaped in collaboration with leading experts in aerodynamics, naval architecture, and high-performance systems.
“Ferrari’s pursuit of record-breaking performance at sea mirrors PMI’s own journey of change and innovation - bold, forward-looking, and driven by the conviction that technology, coupled with human ingenuity, can help tackle long-standing challenges,” said Jacek Olczak, Group CEO, PMI. “This moment is more than an announcement. It is a continuation of a journey that began more than 50 years ago, charting a new course defined by shared ambition, bold challenges, and a belief that progress matters.”
“I believe that true innovation is born at the intersection of diverse ideas and expertise. Our collaboration with partners is rooted in this philosophy,” Benedetto Vigna, Ferrari CEO, commented. “With Hypersail, a platform for testing and validation under extreme conditions, we are embracing a scientific approach to redefine the limits of what’s possible. This project exemplifies our shared commitment with partners to pioneering technology and innovation, and we are proud to embark on this new journey with Philip Morris International.”
Innovation and change are core to Philip Morris International’s DNA. For the first time externally, a new expression of the company’s visual identity will appear on the Ferrari Hypersail—a modern, dynamic iconography that reflects PMI’s evolution as a consumer packaged goods company.
Philip Morris International: A Global Smoke-Free Champion
Philip Morris International is a leading international consumer goods company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smokefree products, including heat-not-burn, nicotine pouch and e-vapor products. Our smoke-free products are available for sale in 106 markets, and as of December 31, 2025, PMI estimates they were used by over 43 million legal-age consumers around the world, many of whom have moved away from cigarettes or significantly reduced their consumption. The smoke-free business accounted for 41.5% of PMI’s total adjusted net revenues in 2025. Since 2008, PMI has invested over $14 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise smoke, with the goal of completely ending the sale of cigarettes. This includes the building of worldclass scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. Following a robust science-based review, the U.S. Food and Drug Administration has authorized the marketing of Swedish Match’s General snus and ZYN nicotine pouches and versions of PMI’s IQOS devices and consumables - the first-ever such authorizations in their respective categories. Versions of IQOS devices and consumables and General snus also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA. With a strong foundation and significant expertise in life sciences, PMI has a long-term ambition to expand into wellness and healthcare areas and aims to enhance life through the delivery of seamless health experiences. References to “PMI”, “we”, “our” and “us” mean Philip Morris International Inc., and its subsidiaries. For more information, please visit www.pmi.com and www.pmiscience.com
