BAT Gets Leg Up on Marlboro in U.S. Heated-Tobacco Race
- Co. to test Neocore device with consumers after FDA approval
- BAT plans Alto, nicotine-salt product, to compete with Juul
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British American Tobacco Plc’s shares broke out of their recent malaise as investors welcomed solid profits and the prospect of the company’s heated-tobacco product being the first on the U.S. market.
BAT’s first-half profit of 4.82 billion pounds ($6.4 billion) was slightly ahead of analysts’ estimates. The London-based company said it received approval from the U.S. Food and Drug Administration to begin selling its Neocore heated-tobacco device, which was formerly known as Eclipse.