A pack of cigarettes behind a US convenience-store counter may well have come from Altria. Altria owns a group of nicotine businesses that sell almost entirely in the United States. PM USA makes cigarettes. Other group companies make cigars, moist smokeless tobacco (tobacco tucked between lip and gum), nicotine pouches placed under the lip and vapes, which the company calls e-vapor products. Its own distribution arm sells them to the trade. Earnings rest mostly on cigarettes: fewer are sold each year, but price increases and cost control have kept them highly profitable.
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