Beyond the cigarettes: Philip Morris lights up the race with Swedish Match offer
LONDON – Philip Morris International’s $16 billion bid for smaller rival Swedish Match underscores the urgency for cigarette makers to tap into new, potentially less harmful alternatives as regulations and health concerns stifle traditional smokes .
Marlboro maker Philip Morris agreed on Wednesday to buy Swedish Match, one of the world’s largest makers of oral nicotine products. These include ‘snus’ – a sucking tobacco product that the company says is less harmful than smoking – as well as Zyn nicotine pouches, which are used in the same way and without tobacco.
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