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- ITC that earns over 80% of profit from cigarette sales, needs to increase focus on tobacco-free nicotine products in order to reduce the regulatory risk on its main business
- Global tobacco sales expected to go up by 4.3% annually through 2019 while, Cigarettes, may under-perform with 4% projected annual growth, led by Asia-Pacific markets.
- e-cigarette, ‘heatnot-burn’ products, nicotine inhalers and aerosol-nicotine delivery systems are few innovative products being introduced to the market by major players.
- ITC had launched ‘Eon’ in 2014, an electronic vaping device across Hyderabad, Kolkata, Bengaluru, Delhi and Goa, and is also sold online.
- Introduced ‘KwikNic’, nicotine chewing gum, adding the pharma channel to the product’s distribution footprint. Yet, the amount spent on innovation is still remarkably less.
Read more at The Economic Times
- IIPL Bytes:
- ITC needs to find an equally profitable business which can be a replacement of their hugely popular cigarette business in next 10 years’ time.