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Philip Morris to launch Marlboro HeatSticks system in Milan

Reuters

LONDON (Reuters) - Philip Morris International Inc (PM.N), the world's largest tobacco company, plans to launch its new iQOS smokeless device and Marlboro HeatSticks in Milan, Italy on Thursday following a launch in Nagoya, Japan earlier this month.

Speaking at a conference on Wednesday hosted by Morgan Stanley, Philip Morris Chief Executive Andre Calantzopoulos said the Japan launch has gone better than expected.

In terms of performance, Calantzopoulos said the Marlboro cigarette maker was targeting annual growth next year of 4 to 6 percent in net revenue and 8 to 10 percent in earnings. He also stood by the company's forecast for this year, which calls for earnings in the range of $4.76 to $4.81 per share.

(Reporting by Martinne Geller in London, editing by William Hardy)