Business | Gummed up

Zyn is giving investors a buzz—for now

Nicotine pouches are growing fast

Zyn products on display in a shop.
Photograph: Alamy

When tucked between lip and gum, a small white pouch of Zyn is intended to give the user a pleasant nicotine hit. Its maker is getting a lift, too. Shares in Philip Morris International (PMI), the world’s largest publicly traded tobacco company, are at record highs. Investors’ enthusiasm, which has surged since a bumper earnings report in early February, has little to do with sales of Marlboro or PMI’s other cigarettes. It is fuelled by the firm’s booming “smoke-free” products (broadly, anything but burning tobacco)—and chiefly by Zyn.

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This article appeared in the Business section of the print edition under the headline “Gummed up”

From the March 1st 2025 edition

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