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America's Cigarette Market Is Up for Grabs [Yahoo! Finance]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Most Read from The Wall Street Journal FAA, United Investigate Cockpit Visitor During Baseball Team's Flight Google CEO Pichai Calls for Reset After Activist Firings Housing Market Slumps as Mortgage Rates Top 7% Inside Amazon's Secret Operation to Gather Intel on Rivals Netflix Password Crackdown Delivers Millions of New Customers When Philip Morris International was spun out of Marlboro maker Altria in 2008, the two companies were never expected to compete head on. PMI's job was to distribute America's bestselling cigarette brand overseas, while Altria would continue to sell it at home. But PMI gate-crashed the U.S. market 16 months ago through its $16 billion takeover of Zyn oral nicotine-pouch maker Swedish Match. In roughly a week's time, the last commercial tie between Altria and PMI will be severed. A 2013 contract that gave Altria the exclusive U.S. distribution rights to PMI's most successful smoke-free product, IQOS heat-not-burn tobacco sticks, expires on Apr
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