Altria Group, Inc. has announced plans to expand the test market for its heat-not-burn device, IQOS. The expansion will bring IQOS to the Charlotte, N.C. area, the third market for the new device.
Previously, Altria has introduced IQOS to Atlanta and Richmond, Virginia [read more here]. Beginning in April 2020, Charlotte will become the newest test market for the device due to the city’s metropolitan status as well as North Carolina’s low excise tax rate for modified-risk products.
During an investor conference, Altria CEO and chairman Howard Willard commented: “Charlotte is a growing metropolitan region with a pro-harm-reduction legislative environment. In fact, North Carolina is one of four states that’s enacted legislation to lower excise tax rates for products that receive a modified-risk claim from the FDA.”