All articles tagged with #cigarette alternatives
Altria Group Inc. plans to sell a portion of its stake in Anheuser-Busch InBev SA for over $2 billion to fund its own share repurchases, with AB InBev also agreeing to repurchase $200 million of shares directly from Altria. The move comes as Altria faces increasing competition in cigarette alternatives and may use the proceeds to develop its own non-combustible products, such as vape and oral nicotine pouches.
Philip Morris International reported quarterly earnings that exceeded expectations, but revenue fell short as sales of its heated tobacco and oral nicotine products remained strong. The company raised its full-year adjusted earnings guidance and cited its IQOS heated tobacco products and Zyn oral nicotine pouch as growth drivers. Philip Morris has been shifting away from traditional cigarettes towards smoke-free products and respiratory medicines. While shipment volume for traditional cigarettes declined, net revenue for the category increased due to higher pricing. The company's Zyn nicotine pouch unit saw significant shipment volume growth.