Altria and Philip Morris' IQOS 3 Device Wins FDA Approval

The latest big-name alt-tobacco product has been approved by the Food and Drug Administration (FDA). The IQOS 3, a device that heats but does not burn tobacco, received the green light to be sold within our borders from the regulator. This was announced Monday by Altria (NYSE: MO) the company that exclusively distributes the IQOS line in the U.S. under license from international peer Philip Morris International (NYSE: PM).

Altria wrote in the press release heralding the approval that IQOS 3 is an advancement over IQOS 2.4, its predecessor. The upgrade offers better battery life and faster recharging. In terms of product design, it features a side opening mechanism and a magnetic closure that is ostensibly more secure.

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Source Fool.com