Philip Morris will reduce the Parliament promotional allowance by $1.50 per carton to $2 per carton and eliminate the $2 per carton promotional allowance on Virginia Slims, the spokesman said.

Bottom Line Philip Morris is strategically evolving beyond its traditional cigarette business, exemplified by the remarkable success of its “Zyn” oral nicotine patch business.

In early 2008, Philip Morris International was spun off from the Altria Group. The company built the foundation of its business on its premium cigarette brand category with its well-known Marlboro ...