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British American Tobacco plc (NYSE:BTI) is one of the The 11 best FTSE dividend stocks to buy now.
On October 28, British American Tobacco plc (NYSE:BTI) announced that it has halted a pilot program to introduce an unlicensed disposable vape in the United States after the Food and Drug Administration (FDA) increased its efforts to curb unregulated products and speed up the licensing process.
The move, which was not previously announced, highlights the challenges facing major tobacco companies as they once again compete with a flood of unregulated products, mostly imported from China, that have cut into $22 billion in profits from the U.S. smoking alternatives market.
A spokesman told Reuters that Reynolds American, the U.S. arm of BAT, decided to pause the pilot launch of Vuse One, a product it acquired in April, after previously presenting plans for a launch without FDA approval
Although only a pilot project, the initiative represented a bold shift in the way major tobacco companies approach FDA regulations and attracted significant attention from investors, competitors and regulators alike.
British American Tobacco plc (NYSE:BTI) is a British multinational corporation that manufactures cigarettes, tobacco and related products.
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