Altria inks new deal on heated cigarettes as sales slide

By MATTHEW PERRONE
AP Health Writer

WASHINGTON (AP) — Altria has announced a new partnership with Japan Tobacco to bring a heat-not-burn cigarette to the U.S. market. The announcement comes one week after Altria exited a similar deal with Philip Morris International to sell its IQOS device. Marlboro-maker Altria announced the deal on the same day it reported lower-than-expected earnings, which were squeezed by rising prices and tighter consumer spending. For years Altria has emphasized its efforts to shift its business away from cigarettes amid steady declines in smoking. But cigarettes still account for the vast majority of its sales and efforts to expand into vaping and other alternatives have repeatedly stumbled.