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3/ BAT South Africas sales volumes dropped 40 percent between 2020 and 2025

California Tobacco Taxes California is one of the highest-taxed tobacco states in the country

The tobacco black market also saw a decline of 0.4 percentage point at 54.4% in 2Q25, compared to the previous quarter

We'd be blocked at every turn, we wouldn't achieve a damn thing

According to Foulds, the evidence that nicotine is harmful to the developing brain is of about the same quality as evidence on the impact of caffeine on young people

This was driven by the continued growth of IQOS, which has now surpassed Marlboro in net revenues, solidifying its position as the leading premium nicotine brand less than 10 years after its launch