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  • Troutman Pepper Locke Officially Launches

    Troutman Pepper Locke Officially Launches

    Troutman Pepper and Locke Lord have merged to form Troutman Pepper Locke LLP, a law firm with more than 1,600 attorneys across 33 offices in the United States and Europe.

    “This merger is a strategic leap forward, allowing us to offer an even broader and deeper suite of services to help clients solve complex legal challenges,” said Tom Cole, chair of Troutman Pepper Locke. “The increased scale strengthens our ability to handle matters across an expanded geographic footprint and underscores our continued commitment to client service, efficiency, and innovation.”

    The new firm is led by Cole, with David Taylor and Ashley Taylor serving as vice chairs. Amie Colby serves as managing partner.

    “We are thrilled about the opportunities this match brings,” David Taylor said. “Our firms have the same sweet spot — the middle market. And together, we are doubling down on our commitment to high performance, collaboration, and excellence.”

    “Law firm mergers are certainly on the rise, but ours is about strategic growth to create more value for our clients,” said Ashley Taylor. “This value will flow from our combined strength in key industries, regions, and practices.”

    The combined firm boasts offices in 18 U.S. states, as well as the U.K. Troutman Pepper Locke offers more than 600 lawyers in the Northeast, with a significant presence in Boston, Philadelphia, and the New York metro area. In the South, the firm’s bench is particularly deep, with nearly 700 lawyers in locations including Texas, Georgia, Florida, North Carolina, and Virginia. The combination has strengthened resources in California and the Midwest, including Chicago.

  • Relx WeCreate Gets Approval in Philippines

    Relx WeCreate Gets Approval in Philippines

    Relx announced that its new WeCreate closed pod system gained approval to carry the Philippine Product Standard Mark. RELX says the WeCreate is a breakthrough in customizable vaping technology, blending precision design with advanced features. It has an 800mAh battery that can provide between seven and 15 days of usage on a single charge, a USB Type-C charging port, an adjustable airflow system, and a smart display that “provides real-time information on battery status and other essential details, ensuring users remain informed and in control.”

    The RELX WeCreate offers 14 distinctive pod flavors, each designed to complement the device’s advanced technology.

  • PMI Posts Strong Fourth Quarter Behind ZYN Demand

    PMI Posts Strong Fourth Quarter Behind ZYN Demand

    Philip Morris International (PMI) posted better-than-expected fourth-quarter results with net sales rising 7.3% to $9.71 billion, topping the $9.44 billion estimated. The company also forecasted adjusted annual earnings per share in the range of $7.04 to $7.17, above analysts’ estimates of $7.03. The positive news sent company shares up nearly 8% yesterday (February 5).

    Analysts say the strong quarter was driven by strong demand for PMI’s smoking alternatives such as ZYN nicotine pouches. In January, the U.S. Food and Drug Administration gave PMI a formal license to market ZYN in the country, saying it poses a lower risk of serious health conditions due to substantially lower amounts of harmful constituents.

    In the quarter, oral inhalable smoke-free products volumes grew by 25% in cans from a year earlier, fueled by ZYN nicotine pouch growth in the U.S., where shipments reached nearly 165 million cans, representing a growth of nearly 42% from the prior year.

  • Universal Corporation Announces Quarterly Dividend

    Universal Corporation Announces Quarterly Dividend

    Universal Corporation announced that the Company’s Board of Directors declared a quarterly dividend of eighty-one cents ($0.81) per share on the common shares of the Company, payable May 5, 2025, to common shareholders of record at the close of business on April 14, 2025.

    Universal Corporation is a global agricultural company with more than 100 years of experience supplying products and innovative solutions to meet customers’ evolving needs and precise specifications. Universal works with farmers and partners across more than 30 countries on five continents.

  • Lithuanian Customs: Huge Increase in Counterfeit Cigarettes from Latvia

    Lithuanian Customs: Huge Increase in Counterfeit Cigarettes from Latvia

    Lithuania’s State Border Guard Service says it has already intercepted half a million packs of illegal cigarettes coming into the country from Latvia, after only confiscating 111,000 illegal packs last year. Lithuanian customs officials say there has been a huge increase in the production of counterfeit cigarettes in Latvia, which are ending up on the Western European market.  

    “Illegal cigarette production in Latvia was particularly active last year, and the scale is really impressive as 30 truckloads were intercepted at the end of last year,” said Darius Zvironas, director general of the Lithuanian Customs Department. “Not the total amount produced, but the amount waiting to be shipped out. These are huge figures.

    “The flow of such cigarettes from Latvia goes through Lithuania, mainly towards Western Europe, and some of them end up in Lithuania.”

    Earlier this week, a shipment of smuggled cigarettes from Latvia worth €620,000 was intercepted in the Raseiniai District.

  • Nepal Goes All-In on Health Packaging

    Nepal Goes All-In on Health Packaging

    The Global Tobacco Treaty (formally called the World Health Organization Framework Convention on Tobacco Control or WHO FCTC) called on governments to implement strong pictorial health warnings to “help save lives from deadly tobacco.” Nepal took that to heart, announcing that beginning August 17, all cigarette packs will be required to have 100% pictorial health warnings on both the front and back of the packaging.

    Since 2014, Nepal had 90% graphic health warnings on both sides of its packaging, the most in the world behind only Timor-Leste and Turkiye, which both had 85% coverage on the front and 100% on the back. In August Nepal will move to No. 1.

    “Nepal has set a global benchmark by adopting 100% pictorial health warnings on tobacco packaging,” said Dr. Tara Singh Bam, Asia Pacific Director (Tobacco Control) Vital Strategies. “This policy is a powerful tool to prevent smoking among youth and children, encourage tobacco users to quit, and raise public awareness about the dangers of tobacco use. It is a highly cost-effective intervention that not only saves lives and reduces healthcare costs, but also helps to denormalize tobacco in our communities. This remarkable achievement is a testament to the strong political commitment and timely actions of the Ministry of Health and Population, Nepal.”

  • PM Korea Says Science Demands E-Cigarette Recognition

    PM Korea Says Science Demands E-Cigarette Recognition

    The head of Philip Morris Korea cited scientific evidence today (February 5) in defense of the global tobacco company’s ongoing efforts to shift from traditional cigarettes to electronic vaping products for healthier living. Managing Director Hannah Yun emphasized the importance of scientifically proven data in persuading the government about the benefits of electronic cigarettes. Her remarks were directed at the Korean government, which has highlighted their harmfulness, urging citizens to quit both tobacco and electronic smoking.

    Yun acknowledged that, as a cigarette company, it has often faced criticism regarding public health. She added that the company’s efforts to encourage smokers to quit by promoting a potentially less harmful alternative have rarely received outright support from outside the industry, including from the Korean government.

    The government has consistently criticized smoking without distinguishing between e-cigarettes and traditional cigarettes or acknowledging the potential benefits of the former. Instead, it has treated e-cigarettes as “just another type of smoking you must quit” through various advertisements and TV campaigns.

    The Ministry of Health and Welfare in November released the results of an external report, which studied synthetic nicotine used in vaping, a type of e-cigarette smoking. The report concluded that synthetic nicotine contains multiple types of hazardous chemicals, which is contrary to what vaping product makers have said.

    “We have been stacking up scientific data and making reports promoting those data to prove the benefits of e-cigarettes. This is our only way to get at the government,” Yun said at a press conference in Seoul, where Philip Morris International (PMI) and its Korean subsidiary unveiled a new model for its flagship e-cigarette device brand IQOS to Korea.

    “We want the government to know that our e-cigarette business is not about pursuing our own business interests. It is rather our campaign promoting a healthier way to smoke based on scientific data. We wish the government would look at our business and understand it scientifically.”

    Philip Morris Korea’s External Affairs Director Kim Joo-han asked the government to “check a broader range of data before introducing policies or pursuing campaigns” to better understand e-cigarette smoking.

    “Member states of the Organisation for Economic Co-operation and Development [OECD] have introduced e-cigarette-friendly policies to promote the practice and help the public quit smoking more effectively,” Kim said. “The Korean government should look into those examples.”

    During the event, Philip Morris Korea unveiled IQOS Iluma i, the latest version of its IQOS product, which was first launched globally in 2014 and in Korea in 2017.

    As of last October, the company occupied a 40 percent share of Korea’s e-cigarette market, while KT&G led with 49 percent and BAT Rothmans accounted for 11 percent. Meanwhile, JTI Korea, a Korean subsidiary of Japan Tobacco International, also released its new e-cigarette device model, Ploom X Advanced, in October 2024.

    “One out of every five adults in Korea are now smoking e-cigarettes,” Yun said. “We believe we are truly doing the right thing by helping the rest four out of every five adults quit tobacco smoking.”

    Vassilis Gkatzelis, PMI’s president of East Asia, Australia, and Duty-Free Region, said during the press conference that PMI aims to log two-thirds of its entire sales from e-cigarette products by 2030.

    “What is truly expected of a tobacco company? The answer is straightforward,” Gkatzelis said. “It is introducing the smoke-free future.”

    Gkatzelis said that among PMI’s 180 market countries, Korea “holds a very special place” because it is among the top five countries in its global e-cigarette market. “IQOS is accelerating the transition away from tobacco cigarettes,” he said. “It is ushering in the world where combustion smoking is increasingly becoming obsolete and will [just be seen in] a museum.”

  • Massachusetts: Council Pushes Back on Cigar Hikes

    Massachusetts: Council Pushes Back on Cigar Hikes

    Several city councilors in New Bedford, Massachusetts, are criticizing the mandated increase in cigar prices that are meant to dissuade young smokers, as they are also hurting small businesses. “Minimum cigar pricing” was part of updated tobacco regulations adopted by the Board of Health in October 2024 that went into effect January 1. Councilor Ian Abreu said the fact a cigar that not long ago could have been purchased for $1.25 now costs $2.90 is having a “negative economic impact on our small-business community who retails these products.”

    Massachusetts is one of the most progressive states when it comes to the war on tobacco, allowing each of its 351 cities and towns the authority to enforce a range of laws, regulations, and local codes.

    Abreu said the feedback from local retailers has been overwhelmingly negative and that cigar sales have plummeted, forcing them to raise the prices of other products.

    “These are the unintended consequences that you see when certain legislation and actions like these happen to the small business community here in New Bedford,” Abreu said.

    Another problem is that many retailers say they weren’t notified of the changes.

    “There was a little bit of government overreach, is what I’m hearing,” Councilor Shawn Oliver said. “Now they’re forced to not only raise prices and exile some of their consumers but also possibly eat some inventory and a loss of money. That doesn’t sound like a city that is pro-business to me.”

    Councilors unanimously voted to set up a meeting with health officials and local retailers, as well as a representative of the New England Convenience Store & Energy Marketers Association to discuss the regulations, is what is being called a “noxious environment” for small business.

    “As the expression goes, the road to hell was paved with the best of intentions,” Councilor Leo Choquette said. “I don’t understand where the Board of Health thinks it has the right to interfere in the free market or the economy of this area in that regard.

     “And now you want to do idiotic things like this to drive business owners out who are trying to get by. It’s ridiculous.”

  • PTB Dissolution Hurts Farmers, Opens Illicit Market

    PTB Dissolution Hurts Farmers, Opens Illicit Market

    The Pakistani government’s decision to dissolve the Pakistan Tobacco Board (PTB) and hand over the regulatory authority to provincial governments has sparked months of controversy, and will likely have severe economic, social, and regulatory consequences, said Osama Siddiqui, a macroeconomic expert.

    “The PTB has played a pivotal role in regulating tobacco production and the industry under a centralized system that benefits all stakeholders, including farmers and the legal tobacco sector,” Siddiqui said.

    He added that the dismantling of the system could lead to a surge in illegal tobacco cultivation and sales, which would undermine the legal industry. One of the PTB’s critical contributions has been ensuring fair prices for tobacco farmers, especially in Khyber-Pakhtunkhwa (K-P), where the majority of Pakistan’s tobacco is produced. By maintaining a balance between supply and demand, the PTB has safeguarded farmers’ interests, providing them with a stable income.

    The expert fears that provincial governments lack the capacity to manage this responsibility effectively. Without the PTB’s oversight, the farmers could face financial hardships due to falling prices and market instability. A decline in tobacco production will deprive the farmers of their livelihoods and leave them vulnerable to exploitation.

    The PTB’s centralized regulation has also fueled growth in tobacco exports, which increased from $42 million in 2019-20 to $108 million by the end of 2024. Additionally, legal tobacco sales have made a substantial contribution to the national treasury by generating Rs237 billion ($853 million) in revenue through the federal excise duty and sales tax.

  • JT Not Adjusting Russian Business

    JT Not Adjusting Russian Business

    In a statement issued to This Week in Asia, a Japan Tobacco (JT) official said: “As announced in early 2022, the JT Group has suspended all new investments and marketing activities in Russia. At present, the group continues its manufacturing and sales operations in the country in full compliance with all applicable regulations, including but not limited to economic sanctions and export controls. We continue to closely monitor legislative developments as well as the situation on the ground and review our options.”

    JT announcing that it was not pulling out of the lucrative Russian market makes news as the Ukrainian government continues its efforts to get some of the world’s largest companies to exit its combative neighbor. A Ukrainian report said JT contributed $182.3 million in taxes to the Russian government in 2023, fourth among taxpaying companies behind only Austria’s Raiffeisen Bank International ($491 million), China’s Chery Automobile, and Philip Morris, the world’s leading tobacco company.

    International companies that did not exit the Russian market immediately after the invasion of Ukraine began but later pulled out from bad press include Heineken, Citigroup, and Kraft-Heinz.

    JT, which is still one-third owned by the government, faces minimal criticism in Japanese media and as a result, the public – which is strongly supportive of Ukraine – is offering few objections.

    “There has been no comment from the government, no pushback from the public, and nothing in the media,” said James Brown, a professor of international relations at the Tokyo campus of Temple University who specializes in Russian affairs. “So the sense at [JT] headquarters appears to be ‘why should we walk away from it?’

    “The position in Japan was that if being there was not explicitly sanctioned, then it was fine to carry on. And that meant it was not a problem for the company, which was open about what it was doing.”

    In May 2024, Japan Tobacco CEO Masamichi Terabatake made that stance clear when he told the Financial Times that the company’s supply chains had been adjusted to meet international sanctions and that it would remain active in Russia to protect investors’ interests.

    “If worse comes to worst, there is even the risk of a shareholder lawsuit if we were to discontinue a business that we are able to continue,” he said.