Meanwhile, Philip Morris, along with Japan Tobacco (OTC: JAPAF ) and British American Tobacco (NYSE: BTI ), has agreed to a $22.6 billion settlement to resolve tobacco-related litigation in Canada. This settlement aims to end long-standing legal uncertainties for the companies. In a separate development, Philip Morris's U.S. affiliate, PMI U.S., has expanded its IQOS heated tobacco system in Austin, Texas, following a successful pilot program. The product, authorized by the FDA, is now available at select locations, with online purchases expected to begin in April 2025. These recent developments reflect the company's ongoing efforts to adapt to regulatory challenges and expand its smoke-free product offerings.