mrtp tobacco U.S. Regulatory Landscape for Smoke-Free Products FDA Signals Green Light for

This process can take several weeks to several months

The e-cigarette is available at 30 locations in Jerusalem, Tel Aviv, Ramat Gan, Ashkelon and Modiin, at tobacco shops as well as the vape shops that have sprung up at a dizzying pace in recent months

But sales of duty-free cigarettes surged 60.7 percent on-year to 140 million packs in 2023 in line with the growth in the number of tourists after the COVID-19 pandemic

(For a recap of our views, see the first IMB article we published on Substack in May.) We believe the risk of disappointment is rising after FY23 results, with external challenges building just as we are entering a period when management has led investors to expect more earnings growth