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CEO Billy Gifford, in his final earnings call (Q1 2026) before stepping down in mid-May, credited disciplined execution across the smokeable segment and called out a clear shift in the competitive landscape: illicit flavored e-vapor products, which had been taking share from cigarettes for years, appear to be hitting a saturation ceiling

Manny: Nah, they have people with giant spatulas who clean these out, I dont need to

Many asthma patients are not able to maintain a normal lifestyle with traditional therapies

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