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BAT pulls ahead in U.S. vaping battle, shares jump

BAT pulls ahead in U.S. vaping battle, shares jump

BAT pulls ahead in U.S. vaping battle, shares jumpBritish American Tobacco (BATS.L) plans to test its new Eclipse tobacco heating device in the United States this year, allowing it to pull ahead of Philip Morris (PM.N) in the world’s biggest vaping market. Its shares rose 5 percent as BAT, the world’s second-biggest international tobacco company by revenue, also reported better-than-expected first-half profit, helped by its recent takeover of Reynolds American. BAT said it received a “substantial equivalence” clearance from the U.S. Food and Drug Administration for an improved version of its carbon-tipped tobacco heating product called Eclipse, a major regulatory hurdle that clears the way for a market launch.

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