imperial tobacco investor relations Annual Report 2025 Shareholder Contacts - Imperial Brands

market was appropriate for the protection of public health because the products produce fewer or lower levels of some toxins than combustible cigarettes. Unlike combustible cigarettes, the IQOS devices heat tobacco-filled sticks wrapped in paper, which generates an aerosol that contains nicotine

While the proposed rule might reduce overall cigarette smoking, especially among youth, a study cited by the FDA does note that banning menthol cigarettes may conversely increase vaping 22% by 2026

How Do Heated Tobacco Products Work

A pack of cigarettes became not just a source of smoke, but a symbol of status and quiet bragging rights