Philip Morris International (PMI) is currently in negotiations with the Egyptian government to set the quality standards for its electronic cigarette product ‘IQOS’, after receiving approval from the US Food and Drug Administration (FDA) to start selling it in US markets earlier this week. According to Managing Director Vassilis Gkatzelis, the company seeks to launch the product soon after agreeing with the government on whether to import or manufacture it locally through Eastern Co. [EAST.CA]. This would, however, need specialised equipment, as the product’s manufacturing process differs from that of regular cigarettes. The price of the e-cigarettes would be close to the price of a pack of Marlboro cigarettes, Gkatzelis said, while the price of the electronic device is cUSD100. PMI currently holds a market share of c90% for international brands in Egypt and has no intention to raise prices during the coming period.