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Category: Business & Finance

  • Nion Launches Dissolvable Nicotine Strips in UK

    Nion Launches Dissolvable Nicotine Strips in UK

    Nion announced the launch of its dissolvable oral nicotine strips in the UK, initially being distributed in Manchester. Placed under the lip, the strips dissolve in about 10 to 15 minutes, requiring no device, charging, or disposal after use. The launch range includes Mint and Lemon flavors in three strengths — 1 mg, 3 mg, and 6 mg — with 20 individually wrapped strips per £5.99 pack.

    Nion said the product is designed as a discreet alternative to existing nicotine formats for adult users and will be available through selected convenience stores, kiosks, vape shops, tobacco retailers, and online retailers. As an oral nicotine product, Nion is outside UK’s Vaping Products Duty that will impose a £2.20-per-10ml duty on vaping liquid, plus VAT, beginning Oct. 1.

  • JTI Says Regulatory Gaps Fueling Illicit Trade in Philippines

    JTI Says Regulatory Gaps Fueling Illicit Trade in Philippines

    Japan Tobacco International (JTI) said regulatory and enforcement gaps are contributing to the movement of illicit tobacco across the Philippines’ borders, with criminal networks using maritime routes between Malaysia, Indonesia, and Mindanao. JTI Anti-Illicit Trade Operations Regional Director Valentin Dinca said illicit tobacco originating in China, the United Arab Emirates, Vietnam, Indonesia, and Cambodia moves through regional transit hubs including Malaysia, Singapore, and Thailand. In the Philippines, he identified Tawi-Tawi, Sarangani, and Zamboanga as key points for shipments arriving by sea before being redistributed domestically.

    JTI Philippines Director for Corporate Affairs and Communications Shaiful Mahpar called on ASEAN governments to align export-control requirements, increase intelligence sharing, and strengthen cross-border enforcement. JTI said a June operation with Philippine authorities led to the seizure of 23 containers of illicit cigarettes valued at about 1.7 billion pesos ($27.5 million). Mahpar said export shipments should comply with the destination market’s requirements, including tax stamps and graphic health warnings, to reduce opportunities for illicit trade.

  • BAT Hosts Capital Markets Day

    BAT Hosts Capital Markets Day

    British American Tobacco hosted its Capital Markets Day for institutional investors and analysts today (Sept. 29) in Winston-Salem, North Carolina, outlining its Horizon 2030 strategy. Chief Executive Tadeu Marroco and members of BAT’s management team highlighted the company’s global multi-category nicotine portfolio and capabilities. BAT said it expects New Category revenue to grow at a mid-teens rate through 2030 and New Category contribution margin to reach at least 30% by 2030, driven by premiumization, improved product mix, increased scale, and more targeted resource allocation.

    BAT said it remains on track to deliver toward the lower end of its 3%-5% revenue growth and 4%-6% adjusted profit from operations growth targets for 2026, with adjusted diluted EPS growth toward the middle of its 5%-8% range, all at constant currency rates. The company also expects to reach its 2.0-2.5x target leverage range by year-end and said it expects a 2%-2.5% translational foreign-exchange headwind to 2026 adjusted diluted EPS growth based on current spot rates.

  • Elitecon Inks $60M South African Tobacco Supply Agreement

    Elitecon Inks $60M South African Tobacco Supply Agreement

    Elitecon International entered into a Product Supply Framework Agreement with South Africa-based World Class 77 covering potential exports of cut blended tobacco, homogenized tobacco, cigarettes, and fast-moving consumer goods, according to a report in Business Standard. The agreement, signed Sept. 26, establishes an indicative program ceiling of up to $60 million, or approximately ₹574.2 crore, based on a contractual reference rate of ₹95.70 per U.S. dollar.

    The agreement runs through Aug. 31, 2027, and provides a commercial framework for Elitecon’s export supplies to South Africa. The company said the agreement is intended to support the continued development of its international business.

  • Cabbacis Reports $1.3M Loss in 1H 2026

    Cabbacis Reports $1.3M Loss in 1H 2026

    Cabbacis reported a net loss of $1.34 million for the first half of 2026, compared with $735,560 in the same period a year ago, while cash used in operations increased to $726,729 from $479,948. The development-stage tobacco company reported no revenue and said it had $61,220 in total liabilities. Cabbacis is preparing a Premarket Tobacco Product Application for its iBLEND very-low-nicotine cigarettes, which contain about 95% less nicotine than the average U.S. cigarette, and plans to begin a larger U.S. study following a six-week study of 70 adult smokers in Switzerland.

    The company also expanded its portfolio with X95, a very-low-nicotine cigarette made without hemp, and formed a wholly owned subsidiary to handle final processing of its hemp blends. Cabbacis has engaged Moody Capital Solutions to raise up to $7.5 million through a Regulation A offering, with about $1.7 million raised to date, and said proceeds will support product development, FDA filings, manufacturing scale-up, and other corporate purposes. The company said it expects to introduce its products in select international markets beginning in the first half of 2027.

  • IKE Tech Launches Continuous Compliance Platform for Nicotine Products

    IKE Tech Launches Continuous Compliance Platform for Nicotine Products

    IKE Tech LLC announced the launch of IKE 2.0, a platform designed to provide continuous compliance controls for regulated products, initially focusing on the global nicotine category. The platform connects identity verification, product authentication, configurable policy enforcement, and compliance intelligence across the product lifecycle, including after retail sale. The company said the system is designed to verify users, authenticate products, and apply requirements based on factors such as jurisdiction, product, and SKU.

    IKE 2.0 is available through a web platform for manufacturers and brand operators and a configurable consumer application. IKE Tech said the platform uses a Human Identity Token to abstract verified personal information, with biometric processing performed on-device. The company said it is SOC 2 Type II certified and designed for GDPR and CCPA compliance. The platform is covered by 11 issued patents, with additional applications pending.

    The company said its technology was the subject of a standalone component PMTA filed with the FDA in April 2025 for interoperable age-verification technology, which the agency accepted for review in 2025. IKE Tech said a controlled Human Factors Study involving 102 participants prevented underage device activation in all attempted cases, while reporting a 91% adult ease-of-use rating and a user error rate below 1%. The study has not been peer-reviewed.

  • BAT Urges UK Retailers to Respond to Nicotine-Product Consultation

    BAT Urges UK Retailers to Respond to Nicotine-Product Consultation

    British American Tobacco continues to urge UK retailers to respond to the government’s consultation on proposed changes to the packaging, appearance, display, and marketing of tobacco and vape products before it closes Oct. 2. BAT UK and Ireland Commercial Director Tolga Kilic said retailers’ experience should inform the final regulations and urged them to highlight potential operational and financial impacts.

    Kilic cited the government’s impact assessment, which estimates vape retailers could face more than £420 million in cumulative lost profits through 2036 from proposed point-of-sale display restrictions. The consultation also covers product packaging, flavor descriptions, and other measures affecting the sale and presentation of nicotine products.

  • JT to Launch Limited-Edition ‘Seven Star’ Packaging in Japan

    JT to Launch Limited-Edition ‘Seven Star’ Packaging in Japan

    Japan Tobacco (JT) said it will launch limited-edition “Black Edition” packaging for four Seven Star cigarette products in Japan, with advance sales beginning Oct. 5 through the CLUB JT online shop. Nationwide sales at convenience stores and tobacco retailers will begin Oct. 19, with the products available in limited quantities.

    The four products — Seven Star, Seven Star Box, Seven Star 10 Box, and Seven Star 7 Box — will retain their existing tobacco specifications and retail for ¥600 ($3.78) per pack, including tax. The limited-edition packages feature an all-black matte design with a silver Seven Star logo. JT said Seven Star ranked first in brand sales volume in Japan’s domestic cigarette market as of the end of June 2026.

  • JTI Invests $33.6M to Upgrade Factory in Philippines

    JTI Invests $33.6M to Upgrade Factory in Philippines

    JT International Asia Manufacturing Corporation (JTI-AMC) said it invested more than PHP2.1 billion ($33.6 million) to upgrade its manufacturing facility in LIMA Estate, Batangas, including PHP1.9 billion ($30.4 million) for a new Dry Ice Expanded Tobacco (DIET) plant and more than PHP177 million ($2.8 million) to expand its controlled atmosphere (CA) treatment facility. The CA facility became operational in July, doubling the site’s treatment capacity.

    The Batangas factory is the first JTI manufacturing site in Southeast Asia to use DIET technology. JTI-AMC Factory Lead Philippines Amir Vajdi said the investments reflect the company’s confidence in the Philippines and will support the facility’s manufacturing capabilities and technical expertise.

  • Juul Buyers Defend Antitrust Classes

    Juul Buyers Defend Antitrust Classes

    Juul purchasers are defending the certification of several antitrust classes before the U.S. Court of Appeals for the Ninth Circuit in litigation stemming from Altria Group’s 2018 investment in Juul Labs. Plaintiffs argue that differences in purchase volumes, transaction terms, and state laws do not prevent the claims from being resolved on a classwide basis. The Ninth Circuit granted review of the class-certification orders in April.

    The litigation involves three named direct purchasers, seven named indirect purchasers, and five named indirect resellers of JUUL products. In February, U.S. District Judge William Orrick of the Northern District of California granted certification to the direct purchaser class and granted portions of the certification motions filed by indirect purchasers and resellers. The plaintiffs allege that an agreement between Altria and Juul restrained competition in the closed-system e-vapor market and resulted in higher prices; Altria and Juul deny the allegations and maintain that the transaction did not violate antitrust laws or produce anticompetitive effects.

    The Ninth Circuit case includes separate appeals concerning the certified classes, with the U.S. Chamber of Commerce also urging the appeals court to reverse the multistate certification. The Chamber has argued that the district court improperly combined California substantive law with damages laws from 26 other states, while the purchasers maintain that the classes satisfy federal requirements for class actions.