The maker of Marlboro cigarettes is betting big on nicotine pouches placed under your upper lip

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Marlboro-maker Philip Morris International confirmed Wednesday a $16 billion bid to buy rival Swedish Match as part of its accelerated push into smoke-free tobacco alternatives.Shares of Stockholm-based manufacturer hit a record high in early trade after its board agreed to the 161.2 billion krona cash offer from the U.S.-Swiss tobacco giant.Swedish Match is now trading at a 32% premium since talk...

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