From Bloomberg Markets and Finance.
For more than a century, tobacco has been one of the world’s most heavily regulated industries and with each wave of regulation, it has reinvented itself. Now Philip Morris International is accelerating a shift away from combustible cigarettes toward smoke-free products like IQOS and Zyn, arguing that eliminating combustion dramatically reduces harm. The company says cigarettes should eventually disappear altogether. But as nicotine pouches and heated tobacco products gain popularity, public health experts warn that long-term effects remain uncertain and addiction risks persist, raising new questions about whether this is transformation or reinvention.
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