Category: Business

Postal Service Publishes E-Cig Mailing Guidance

Photo: Sean Locke Photography
The United States Postal Service (USPS) has published its guidance for mailing vaping products in the Federal Register. The notice provides some clarity on USPS policy and outlined potential exceptions, which could include legal hemp and its derivatives.
Until the final rule is issued, ENDS are not subject to the Prevent All Cigarette Trafficking (PACT) Act. The USPS suggests it may exempt cannabis products, but also says that it will not review any exemption applications before the rule is finalized. The agency did, however, state that it has attempted to streamline the application process.
“The Postal Service understands that those concerns are heightened by Congress’s decision to make ENDS nonmailable immediately upon publication of the final rule, rather than applying the 30-day notice period that typically follows a final rule under the Administrative Procedure Act,” the USPS wrote. “
If any of the relevant exceptions are ultimately made available, then, given the highly decentralized nature of the ENDS industry relative to the industries historically covered by the PACT Act, the Postal Service anticipates receiving ENDS-related exception applications at a rate several orders of magnitude above the historic norm.
U.S. Postal Service
“Therefore, this document is intended to clarify the state of the exception application process in advance of the final rule and to provide guidance to mailers interested in availing themselves of any exceptions that may ultimately be made available.”
The USPS anticipates many applications for exemption to its mail ban. “If any of the relevant exceptions are ultimately made available for [electronic nicotine delivery systems (ENDS)], then, given the highly decentralized nature of the ENDS industry relative to the industries historically covered by the PACT Act, the Postal Service anticipates receiving ENDS-related exception applications at a rate several orders of magnitude above the historic norm,” the guidance reads.
The USPS mail ban is only one of several challenges to the vapor business created by the recent legislation. Among other requirements, the PACT Act also stipulates that manufacturers register with the Bureau of Alcohol, Tobacco, Firearm and Explosives (ATF), as well as file monthly reports with state tobacco tax administrators.
Recipients of all vaping products purchased online are now required to present ID and sign for their delivery, regardless of the carrier. Many states are expecting businesses to start filing monthly reports on May 10 and the USPS is expecting to post the final rule and officially end the mailing of ENDS products to consumers on April 27.
April 22, 2021
Kaival and Bidi Vapor Continue Cooperation
Kaival Brands approved an amended and restated distribution agreement, which sets forth the terms of the formal relationship between Kaival Brands and Bidi Vapor. The newly amended and restated distribution agreement extends the previous one-year, annually renewable term to an initial term of 10 years, which automatically renews for another five-year term provided that Kaival Brands satisfies certain minimum purchase thresholds.
The newly amended and restated distribution agreement also provides Kaival Brands with a right of first refusal in the event Bidi Vapor receives an offer that would constitute a “change of control transaction” as well as a right of first refusal to act as the exclusive distributor of any and all future products of Bidi Vapor that arise out of or related to electronic nicotine-delivery systems (ENDS) and components related to ENDS, arise out of or relate to the synthetic nicotine industry, or arise out of or related to the tobacco-derived nicotine industry.
“We believe the amendments to the distribution agreement further bolsters the commitment between the two companies,” said Niraj Patel, president, CEO and chief financial officer, in a statement. “The relationship between Kaival Brands and Bidi Vapor during the past 12 months has been fruitful, with Kaival Brands generating approximately $100 million in revenues during the previous 12 months from the sale of the Bidi Stick and expanding its distribution of the Bidi Stick to more than 50,000 stores.”
April 22, 2021
Stora To Close Mills in Sweden and Finland

Stora Enso’s Kvarnsveden Mill in Sweden (Photo: Stora Enso)
Stora Enso will start negotiations with employees at its Kvarnsveden Mill in Sweden and Veitsiluoto Mill in Finland regarding a plan to permanently close pulp and paper production at both mills. The planned closures would take place during the third quarter of 2021 and directly affect 670 people in Finland and 440 people in Sweden.
Paper demand in Europe has declined for more than a decade. This trend has further accelerated due to the pandemic, which has led to changes in consumer behavior. As a consequence, there is a significant overcapacity in the European paper market, which has resulted in historically low price levels and challenged the cost competitiveness of many paper mills. Both Kvarnsveden and Veitsiluoto mills are loss-making, and Stora Enso expects their profitability to remain unsatisfactory.

This is heavy news for our company and our colleagues at Veitsiluoto and Kvarnsveden mills.
Annica Bresky, president and CEO, Stora Enso
“This is heavy news for our company and our colleagues at Veitsiluoto and Kvarnsveden mills,” said Annica Bresky, Stora Enso’s president and CEO, in a statement.
“Our people at the sites are very competent and have done their utmost during very difficult circumstances. Unfortunately, in the rapidly declining paper market, we need to adjust our production capacity to improve the competitiveness of our total paper business. This sadly means the closure of unprofitable assets.”
“We have examined several options to improve the financial situation for Veitsiluoto and Kvarnsveden mills,” said Kati ter Horst, executive vice president of Stora Enso’s paper division. “However, none of these options have proved feasible in ensuring a cost competitive future for the mills. If there was a decision to close down the mills, we would work closely together with other Stora Enso locations, the cities of Kemi and Borlange, and other stakeholders to support in re-employment and training of the affected employees. We would also actively engage in discussions to find alternative future uses for the mill sites. Throughout this process, we will serve our customers in the best possible way.”
The planned mill closures would reduce Stora Enso’s paper production capacity by 35 percent to 2.6 million tons per year.
April 21, 2021
Turning Point Brands invests in Docklight
Turning Point Brands (TPB) has announced an $8.7 million strategic investment in Docklight Brands, a pioneering consumer products company with brands including Marley Natural cannabis and Marley CBD. In addition, TPB has obtained exclusive U.S. distribution rights for Docklight’s Marley CBD topical products. The investment into Docklight Brands’ Series A offering comes with certain follow-on investment rights.
As a result of this transaction, Turning Point Brands now has access to two iconic names in cannabis: Bob Marley and Zig-Zag. The Marley CBD skincare line, which includes after-sun, hand cream, lip balm, balm and roll-on products, combines tropical botanicals with hemp-derived CBD and is currently available nationwide in the U.S. in over 12,000 stores, including select 7-Eleven, Circle K, Safeway and Dollar General locations, with additional availability expected through TPB’s partner network.
The company’s investment into Docklight will also support the growth of the broader Marley CBD line, including Marley Mellow Mood teas, Marley wellness shots and Marley chocolate squares as well as Marley Natural THC products, which are produced and sold under license agreements in Canada, Jamaica and select U.S. states.
“Our goal is to build an expansive portfolio of the most innovative brands in the cannabis industry and to distribute these products across our vast partner network,” said Larry Wexler, CEO of Turning Point Brands, in a statement.
We are confident our strategic relationship with Turning Point Brands will greatly enhance both the visibility and availability of the Marley products across TPB’s extensive distribution network.
Damian Marano, CEO, Docklight Brands
“We reach consumers where they are most comfortable, selling products to distributors, selling to stores directly and interfacing with consumers one-on-one via e-commerce. Adding Marley products to our portfolio alongside our legacy Zig-Zag brand marks yet another milestone as we continue to leverage our brands and expand our distribution infrastructure.”
“Given our shared focus on branded products, we are excited to expand the reach of the iconic Bob Marley brand. We are confident our strategic relationship with Turning Point Brands will greatly enhance both the visibility and availability of the Marley products across TPB’s extensive distribution network,” said Damian Marano, CEO of Docklight Brands.
April 21, 2021
Bidi Vapor Expands Internationally
Bidi Vapor successfully completed the regulatory process to enter seven additional international markets, bringing the total of new international countries open for distribution to 11.
These new international markets include Spain, France, Italy, Germany, the Netherlands, Austria and the Czech Republic. Previously, on March 31, 2021, Kaival Brands announced that Bidi Vapor obtained market authorization for four countries: Australia, New Zealand, Russia and the United Kingdom.
“We are very excited about pursuing our international opportunities,” said Niraj Patel, CEO of Kaival Brands, in a statement, noting how the countries posed both challenges and opportunities that the company is ready to take on.
Kaival Brands is the exclusive distributor for Bidi Vapor’s primary offering, the Bidi Stick, which is the subject of a premarket tobacco product application now under review with the U.S. Food and Drug Administration.
April 19, 2021
Blackbriar and Beard Management Cooperate

Photo: Tobacco Reporter archive
Blackbriar Regulatory Services (BRS) has entered into a regulatory services, manufacturing and distribution agreement with Beard Management. BRS will become Beard’s exclusive manufacturer and a distributor for the company’s Beard Vape Co. and The One brands’ nicotine products and will take over the premarket tobacco product application (PMTA) process for these products. As a part of the agreement, BRS will co-brand a range of PRISM e-liquid products that are complimentary to Beard’s product line, which are currently awaiting regulatory PMTA approval and being manufactured under license by BRS.
“We are honored that Beard, a globally recognized and respected brand, has put their trust in BRS as a key strategic partner moving forward,” said Russ Rogers, CEO of BRS. “Our combination of ISO-certified cleanroom production and analytical lab facilities and industry-leading FDA regulatory application team puts us in a position to provide a very compelling value proposition to customers who are making the investment to be in this industry long-term.
“Beard’s unwavering commitment to high-quality products and regulatory practices makes them a great partner, and we could not be more excited to provide them with a wide array of business solutions to help them ensure that their amazing brand continues to grow and remains a long-term part of this rapidly changing and maturing industry.”
Partnering with BRS ensures the longevity of our brands.
Casey Bates, CFO, Beard
BRS will now become Beard’s agent of record with the U.S. Food and Drug Administration and will oversee the process of providing to the FDA any additional regulatory and testing work required for Beard’s current PMTAs to scientifically prove its products are appropriate for the protection of public health. In addition, BRS will be manufacturing all of Beard’s 45 e-liquid products, including the Beard Vape Co. and The One brands. National and international distribution and all newly required domestic shipping registrations and compliance will also be handled by BRS.
“Partnering with BRS ensures the longevity of our brands,” said Casey Bates, chief financial officer at Beard. “With BRS’ proven competencies as a leader in nicotine e-liquid product manufacturing and regulatory services, it puts us in the perfect position moving forward. The merging of our core competencies will allow Beard to continue delivering great products and great customer service to adults looking for tobacco alternatives. We couldn’t have done this on our own, and we have a long list of people to thank, both at Beard and BRS, for making this possible.”
April 13, 2021
Vape Shops in England and Wales Reopen

Photo: Oxford Vapours
Vape shops across England and Wales are expecting huge numbers of customers—including many smokers seeking expert help and guidance to quit—when they reopen on Monday.
More than 2,000 vape shops across the U.K. are preparing to reopen their doors to customers again on April 12 after the government confirmed the next stage of lifting lockdown restrictions will proceed as previously announced.
Nonessential retail outlets, including vape shops, will be able to reopen their doors from Monday across England and Wales. In Scotland, however, nonessential retail must remain shut until Monday, April 26.
The U.K. Vaping Industry Association (UKVIA) welcomes the relaxing of restrictions as the latest step on the government’s roadmap out of lockdown, especially as this coincides with the hugely successful month-long awareness campaign VApril.
Run by the UKVIA and now in its fourth year, VApril aims to help educate smokers on how to successfully quit conventional cigarettes by transitioning to vaping.

The closure of retail outlets has been especially difficult for some users of vaping products who have struggled to get hold of equipment and advice.
John Dunne, director general, UKVIA
This year’s VApril campaign kickstarted with a webinar featuring leading industry experts, including UKVIA Director General John Dunne, All-Party Parliamentary Group for Vaping Chair Mark Pawsey, Global Legal and Regulatory Strategist at Andina Gold Corp. Patricia Kovacevic and former Director of Action on Smoking and Health Clive Bates.
“The closure of retail outlets has been especially difficult for some users of vaping products who have struggled to get hold of equipment and advice that they needed and who might well have returned to smoking over the past few months,” said Dunne.
“I am so pleased that the wider vape retail sector in England and Wales is now able to reopen its shop doors on Monday 12th April and begin trading again.
“Given the evidence that vaping is at least 95 percent less harmful than smoking, according to Public Health England, it is vital that smokers are now given all the advice they need on making the switch from smoking both in store and using online advice, including the VApril website.”

We are fully committed to achieving a tobacco-free country by 2030, and, with our expert staff now able to open back up the stores, we are ready to help any smoker make the switch.
Doug Mutter, director, VPZ
“We are delighted to have our stores reopen after another lengthy lockdown,” said Doug Mutter, director at VPZ. “From the click-and-collect services alone, we have already seen a huge number of smokers coming forward looking for advice and guidance on their quit journey.
“It has been over a year now that smokers have been struggling with getting expert advice and the selection of products they need from specialist retailers. Vaping retailers have been the last remaining service where people can get help and advice on how best to quit smoking, so we are fully expecting a very busy couple of months.
“We are fully committed to achieving a tobacco-free country by 2030, and, with our expert staff now able to open back up the stores, we are ready to help any smoker make the switch.”
“We are so pleased to be able to give the service we are renowned for to our local customers once again,” said Dan Greenall, managing director at Oxford Vapours.
“Like many other businesses, despite managing to stay afloat during the past 12 months, we have seen a huge drop in aiding smokers on their journey to switching to a less harmful alternative.
“Vaping is personal and guidance is essential to ensure a successful switch attempt. Education through brick-and-mortar retail is the best way to help people looking to make a switch to the less harmful alternative.
“This couldn’t have come at a better time for smokers looking to quit, with the UKVIA recently launching VApril 2021—a dedicated educational campaign to help inform adult smokers of the options available to them and to support those wanting to switch on to vaping.
“Now [that] we can reopen our stores, we are truly able help people make the switch and support the government’s efforts for a smoke-free England by 2030.”
April 9, 2021
Egypt Postpones License Auction

Photo: Tobacco Reporter archive
Egypt has postponed a tender for a license to manufacture cigarettes and vapor products, reports Reuters, citing industry sources.
An auction for the license, which would have ended a decades-old monopoly by the state-controlled Eastern Co., was due to be held on April 6.
“What we understand … is that the postponement is for an indefinite period … Certainly, the conditions for the auction will be changed if it is held again,” one source told Reuters.
Earlier, several bidders had asked the Federation of Egyptian Industries to change the conditions of the license.
According to the companies, the conditions protect Eastern Co.’s market share by preventing the new company from producing cigarettes at the same price point as the monopoly’s mass-market Cleopatra brand, which accounts for 98 percent of Eastern Co.’s revenues.
On March 21, the tobacco manufacturer announced that the IDA has invited companies to the tobacco industry through tendering a new cigarette production license.
The monopoly reported a 14 percent year-on-year increase in its net profit in the second half of 2020, recording EGP2.54 billion ($161.52 million).
Eastern Co.’s product portfolio includes cigarettes, cigars, pipe tobacco and molasses tobacco as well as cigarette filter rods and homogenized tobacco.
April 5, 2021
Founders Invest in Charlie’s Holdings

Photo: Tobacco Reporter archive
Charlie’s Holdings has raised $3 million through the private sale of 351,669,883 shares of common stock to the company’s founders, Brandon Stump, CEO, and Ryan Stump, chief operating officer, the company announced. Charlie’s Holdings intends to use the proceeds to drive growth, facilitate product launches, increase working capital, retire outstanding debt and for other general corporate purposes.
“The extensive process required to compile and submit a comprehensive premarket tobacco product application (PMTA) to the FDA will ultimately prove a huge differentiating factor for Charlie’s, but it was also very expensive,” said Jeff Fox, a member of Charlie’s board of directors.
“Charlie’s invested nearly $5 million for its initial PMTA submission, and the company was in need of additional capital. After lengthy negotiations with numerous other potential investors did not produce acceptable terms, we are pleased that our founders, Brandon and Ryan Stump, chose to personally fund this $3 million common stock only investment.”
After lengthy negotiations with numerous other potential investors did not produce acceptable terms, we are pleased that our founders, Brandon and Ryan Stump, chose to personally fund this $3 million common stock only investment.
Jeff Fox, member of Charlie’s board of directors
Chief Financial Officer David Allen said the proceeds from the private placement will strengthen the company’s balance sheet, accelerate European growth, allow for expansion into the Middle East and facilitate the company reaching several important near-term milestones, including the FDA’s anticipated announcement of Charlie’s successful PMTA.
“Such an accomplishment will allow Charlie’s to benefit tremendously as one of only a select group of companies operating responsibly in the premium e-liquid product space,” said Allen. “Combined with our international growth, a domestic PMTA approval will dramatically increase Charlie’s sales, profits and market share. We expect 2021 will be a very exciting year for our shareholders.”
April 5, 2021
Tectonic Shift

Photos: PMI
By 2025, smoke-free products could contribute more than 50 percent to Philip Morris International’s total net revenues.
By Stefanie Rossel
Five years ago, Philip Morris International (PMI) announced its ambition for a smoke-free future, based on the development and commercialization of smoke-free products that are less hazardous than combustible cigarettes. During its virtual Investor Day conference on Feb. 10, 2021, PMI provided an update on its progress and revealed new targets. By 2025, PMI aims to derive more than 50 percent of its net revenues from smoke-free products, up from 24 percent in 2020.
IQOS Iluma, the next generation of its IQOS heated-tobacco product (HTP), is supposed to play a major role in the company’s transformation. The device comes with a new internal heating technology based on induction and will be launched in the second half of this year. “IQOS Iluma is simple and intuitive,” explained PMI’s Chief Operating Officer Jacek Olczak. “It self-activates and requires less explanation, which will save time and cost of acquisition as well as aftercare and retention. It supports easier switching and higher conversion for legal-age smokers.”
With the new heating system, PMI addresses consumer feedback on the heating technology of its successful IQOS tobacco heating device. Some consumers reported breaking blades.
The Iluma will be available in three designs at three price points. Next to a super-premium version, there will be a variant that corresponds to the present IQOS model 3.1 and more affordable version. For the time being, Olczak said, PMI will maintain IQOS with both the blade and the induction technologies on the market.
“Higher loyalty to the new products will drive consumers to conversion. Requiring less infrastructure, Iluma will enable more access to geographically remote areas,” said Olczak. Iluma will be introduced with a new broad range of consumables; the tobacco sticks of blade and induction technology devices cannot be interchanged.
In the five years since PMI announced its smoke-free ambition, the company has created an entire new product category. As of December 2020, IQOS had 17.6 million users, of which 12.7 million had switched from cigarettes and stopped smoking, according to PMI’s CEO Andre Calantzopoulos. The product is present in 64 markets, a reach planned to be expanded to 100 in the next five years. It also has an 80 percent segment share. According to PMI, IQOS is the world’s No. 1 smoke-free brand and No. 5 nicotine brand. In IQOS markets, the product is the third largest brand behind Marlboro and Winston. IQOS generated net revenues of $6.8 billion in 2020. To date, PMI has invested $8.1 billion PMI in developing reduced-risk products. IQOS has remained remarkably resilient during the Covid-19 pandemic, Calantzopoulos said. In 2020, 76 billion heated-tobacco units (HTUs) were shipped, an amount that is targeted to reach 140 billion to 160 billion in the 2021–2023 period.

Jacek Olczak
Exceptional growth expected
Calantzopoulos anticipates a decline of total nicotine industry volume of 1 percent to 2 percent over 2021 to 2023, but a clear transition to nicotine smoke-free products. He expects the share of combustible cigarettes and other tobacco products (OTP) to decrease from 94 percent in 2020 to 90 percent by 2023, whereas smoke-free products (HTP, e-vapor and nicotine pouches) are estimated to grow from 6 percent to 10 percent over the same period. The HTP category alone, which had a volume share of 3 percent last year, is forecast to account for 7 percent by 2023, assuming the same regulatory conditions as for combustible cigarettes.
In 2020, the retail value of the global nicotine industry stood at around $450 billion. Of that, cigarettes and OTP represented 94 percent, HTP 4.5 percent, vapor products 1.6 percent and nicotine pouches 0.1 percent. Over the next four years to five years, Calantzopoulos expects value compound annual growth rates of roughly 4 percent for the total industry but 25 percent for HTP and 10 percent to 15 percent for vapor products.
Opportunity for IQOS remains vast. “There are 150 million addressable users in current markets and around 600 total international potential users excluding China and the U.S.,” said Calantzopoulos. Indonesia, the Philippines and Vietnam are considered sizeable geographies with potential for IQOS. The U.S. market, where IQOS was authorized as a modified-risk tobacco product by the Food and Drug Administration in July 2020, also holds great promise for the company. “There is high consumer interest in smoke-free alternatives,” Olczak explained, “and a rational and robust regulatory environment for building awareness.” Commercialization of IQOS in the U.S. is supposed to start in early 2021.
“Reduced-risk products (RRPs) are a different business,” said Calantzopoulos, describing PMI’s learning curve. “Their complexity is much higher than that of combustible cigarettes.” Apart from the different manufacturing and supply chain, operating in an uncharted regulatory landscape, the need to build new brand equity and for high conversion for harm reduction and gaining scale, he mentioned a new consumer “journey,” which drives development and commercialization and route-to-market, high upfront investment for meaningful entry and new organizational skills and ways of working. Rewards, though, were also higher, he added. Next to the positive public health impact, RRPs come with higher profitability. This is especially true for IQOS: Its margin is about 2.4 times that of combustible cigarettes and approximately five times that of closed-system vapor products, according to the company’s chief financial officer, Emmanuel Babeau.

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IQOS as an umbrella brand
Over the midterm, the company says it might need two to three technologies and respective consumable offers to cover the full spectrum of consumer price segments. As a premium brand, IQOS can be stretched over two price segments as in Japan. To cover three to five price points in certain markets, further offerings and partnerships will be required.
IQOS is supposed to become the umbrella brand in a consumption environment characterized by poly-use, Olczak pointed out. In the combined markets of the U.K., Germany, Japan and Russia, combustible cigarettes were consumed by 66 percent, vapor products by 7 percent and HTPs by 8 percent of nicotine users in 2019. But there were overlaps: Of the smokers, 4 percent also used HTPs and 7 percent also used vape products. Triple use was observed in 7 percent. “We will move from single to multi-focus, with IQOS addressing a range of consumer preferences,” Olczak said. In the future, the company forecasts, consumers will increasingly use different smoke-free products in parallel.
The second new product launch this year will hence be a vapor product called IQOS Veev. Based on the company’s Mesh technology, which uses a metallic mesh with tiny holes to heat e-liquid in a pre-filled, pre-sealed pod, the product will initially be introduced in more than 20 markets. “Closed system users mean better economics for the manufacturer,” Olczak stated. “The e-vapor category is growing and consolidating. The expected increase in users over the next five years will be 7 [percent] to 10 percent, albeit concentrated in specific geographies. For existing business models, returns remain low—there is low conversion to the category, low loyalty within the category, and a high number of devices per user driving up acquisition and retention cost.”
PMI seeks to enter the market from a different angle, Olczak added, by leveraging the IQOS infrastructure with a bespoke route-to-market approach. Veev will be a premium product coming with a new age verification technology that presently is in the final stages of testing.

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Beyond nicotine
PMI is also eying the nicotine pouch category, a small but growing segment with a market size of 5 billion stick equivalents in 2020. With new consumer tests, the company will develop its platform 2, a THP closest to the combustible cigarette ritual and experience, further this year. Platform 3, an electronics-free nicotine product, is supposed to be commercialized within the next three years.
To accelerate smoking cessation, Calanzopoulos called for differentiated regulatory frameworks taking the differing levels of harm of nicotine products into account. “We must stop debating whether RRPs should be made available, but how fast and how best to help the men and women who would otherwise continue smoking,” he said. “With the right regulatory frameworks, dialogue and support from civil society, cigarette sales can end within 10 [years] to 15 years in many countries.”
To refinance its RRP investments, PMI intends to achieve around $2 billion in annualized gross cost efficiencies by 2023 compared to the 2020 cost base. The company will continue to use the revenues from its combustible cigarette business to support its smoke-free expansion. In 2020, PMI generated net revenues of $28.69 billion ($29.81 billion in 2019), of which combustible cigarettes accounted for the lion’s share.
Excluding China and the U.S., the global cigarette market decreased by 6.7 percent in 2020 compared to the previous year, PMI estimates. In IQOS markets, the decrease even amounted to 9.1 percent. “The reduction of social smoking moments during the height of Covid-19 restrictions has led to consumption loss, which put Marlboro under pressure in 2002 while our other brands performed well,” Olczak pointed out. The temporary loss of duty-free due to reduced air travel contributed to the overall category decline. “But consumption will come back once we return to our pre-Covid-19 daily routines,” said Olczak. Although impacted by the pandemic, the company continued to lead the global cigarette market excluding China with a share of 25.7 percent, down from 26.9 percent one year previously. The downtrading trend continued last year, with the majority being from mid-priced brands to low-priced and super-low-priced products.
PMI predicts a further annual drop in global consumption outside China and the U.S. of 3 percent to 4 percent between 2021 and 2023. The company, however, already has plans to go beyond nicotine: It intends to employ its newly won expertise in life sciences, inhalation technology and natural ingredients to explore and develop botanicals and respiratory drug delivery, the market sizes of which PMI estimates at $29 billion and $36 billion by 2025, respectively. If its up to PMI, “beyond nicotine” products will contribute at least $1 billion to the company’s net revenues by that time.
Stefanie Rossel is Tobacco Reporter’s editorial contributor. An experienced trade journalist, she combines sharp reporting skills with in-depth knowledge of the tobacco and vapor industries. Prior to joining Tobacco Reporter, Stefanie was editor-in-chief at Tobacco Journal International, where she worked for a decade. Fluent in English, German and French, Stefanie covers tobacco news around the world. She is based in Germany.

April 1, 2021