BAT: wins dispute with Philip Morris
(CercleFinance.com) - BAT has announced that the United States International Trade Commission (ITC) has ruled in its favour in the dispute with Philip Morris and Altria, finding that the IQOS heated tobacco products offered by Philip Morris and Altria infringe two patents held by BAT group.
As a result, the ITC has issued an order preventing Philip Morris and Altria from importing the infringing products, IQOS 2.4, IQOS 3, IQOS 3 Duo and accompanying "Heatsticks" into the US, BAT says. They will also be unable to sell products already imported into the US.
"Infringement of our intellectual property undermines our ability to invest and innovate and thereby reduce the health impact of our business. We will therefore defend our IP robustly across the globe," BAT reiterated.
However, the market doesn't seem to think this is a big deal - the BAT share is currently down over 2% in London.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
As a result, the ITC has issued an order preventing Philip Morris and Altria from importing the infringing products, IQOS 2.4, IQOS 3, IQOS 3 Duo and accompanying "Heatsticks" into the US, BAT says. They will also be unable to sell products already imported into the US.
"Infringement of our intellectual property undermines our ability to invest and innovate and thereby reduce the health impact of our business. We will therefore defend our IP robustly across the globe," BAT reiterated.
However, the market doesn't seem to think this is a big deal - the BAT share is currently down over 2% in London.
Copyright (c) 2021 CercleFinance.com. All rights reserved.