America’s Cigarette Market Is Up for Grabs

News Snapshot:

America’s original Marlboro Man faces a fresh competitor, who also happens to be a Marlboro Man. The showdown between them will reshape the U.S. tobacco market. Most Read from The Wall Street Journal When Philip Morris International was spun out of Marlboro maker Altria in 2008, the two companies were never expected to compete head on. PMI’s job was to distribute America’s bestselling cigarette brand overseas, while Altria would continue to sell it at home. But PMI gate-crashed the U.S. market 16 months ago through its $16 billion takeover of Zyn oral nicotine-pouch maker Swedish Match. In roughly a week’s...