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As Britain prepares to phase out tobacco sales for future generations, researchers find a sharp rise in illicit tobacco purchasing that could undermine the policy without stronger enforcement

They often developed brand loyalty through decades of consistent experience

In the US specifically, the 7.2 million-person increase in exclusive e-cigarette users between 2017 and 2023 has fundamentally changed the consumer base

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Tobacco stocks immediately reacted, with shares of Altria Group down 3.5%, British American Tobacco down 1.6% and Phillip Morris International down 2.2% on Monday morning