Let me explain my thinking
There were almost 500 brands and more than 7500 distinct flavors, with no regulation for production standards
E-cigarettes are plastic or metal tubes, usually the size of a cigarette, that heat a liquid nicotine solution instead of burning tobacco
Given that consumption will likely continue to decline in the mid-single digit range, pricing is necessary to drive top-line growth. This week, both Altria Group, parent of Philip Morris USA, and Lorillard tobacco Co
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