Investing.com-- The U.S. Food and Drug Administration is piloting a program to fast-track approval of nicotine pouches from four major tobacco companies, in a move that could reshape the booming market for smoke-free alternatives, Reuters reported on Monday, citing meeting transcripts. The FDA plans to complete reviews of products from Philip Morris International Inc (NYSE:PM), Altria (NYSE:MO), Reynolds American -- part of British American Tobacco (LON:BATS) -- and Turning Point Brands (NYSE:TPB) by December, far quicker than the years-long process companies have faced, Reuters reported. Earlier this year, the agency cleared 20 Philip Morris pouches under its Zyn label after a five-year wait. Products in the pilot include an updated version of Zyn, called Zyn Ultra, as well as Altria’s on! Plus, Reynolds’ Velo mini, and Turning Point’s Fre and Alp. For items already sold without FDA clearance, approval would remove legal risks and potential enforcement, the report said. The initiative comes amid pressure from the Trump administration to accelerate authorizations and follows heavy industry lobbying. Nicotine pouches, inserted under the lip, are the fastest-growing U.S. tobacco category, the report added. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for BATS plus thousands of other stocks and find your next hidden gem with massive upside.

Background The tobacco industry historically recruited community groups to advance its policy agenda; however, there has been little study of industry recruitment of Latinx organisations. Methods We ...

(Reuters) -Tobacco giant Altria (NYSE:MO) beat Wall Street estimates for second-quarter revenue and profit on Wednesday, helped by strong demand for its on! nicotine pouches. The Richmond, Virginia-based company has been banking on its portfolio of smoking alternatives, such as nicotine pouches, to offset the impact from lost sales as more consumers move away from traditional cigarettes and chewing tobacco. While sales of Altria’s vape brand, NJOY, were halted earlier this year amid a patent dispute, higher growth at its on! segment helped make up for the collapse in sales. The company had said in April NJOY will not return to the market this year, booking a hefty impairment related to its vape unit. Widespread sales of unregulated disposable vapes, mostly from China, have eaten into vape and traditional tobacco businesses in the U.S. However, Altria said it anticipates a limited benefit from higher seizures of such devices. The company’s quarterly revenue including excise taxes rose 0.2% to $5.29 billion from a year ago, compared with analysts’ average estimate of a 1.8% decline to $5.18 billion, according to data compiled by LSEG Its adjusted second-quarter profit of $1.44 per share beat estimates of $1.39. Shipment volume for on! nicotine pouches rose 26.5%, compared with a 13.7% increase a year ago. Rival Philip Morris International (NYSE:PM)’s shares suffered last week after shipments of its ZYN nicotine pouches - by far the No. 1 pouch brand in the U.S. - came in below expectations. Shipment volume for Altria’s smokeable tobacco business fell 10.2% during the second quarter, compared with a 13% decline a year ago. The company recorded a non-cash, pre-tax charge of $354 million during the quarter, related to an impairment of trademark for its Skoal smokeless tobacco. It did not give a reason for the impairment. Altria expects annual adjusted earnings of $5.35 to $5.45 per share, compared with previous expectations of $5.30 to $5.45.