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Crack addiction treatment Like all forms of addiction and dependence, crack abuse can be devastating if left untreated

In response to recent reports that rolling tobacco is now more valuable per gram than some precious metals such as silver, Imperial Brands is encouraging retailers to ask their local MP to rethink excessive levels of excise applied to tobacco products to avoid an upsurge in crime and abuse against retailers

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Given the global scale of operations, strong customer loyalty to brander products, high barriers to entry, and strong generation of excess cashflows and excess returns on investment, I believe that BTI has a wide moat ( though most other competitors such as Altria, PMI also spot a wide moat as well) Companies like British American Tobacco can benefit from growth in emerging markets, where smoking is more widespread and declines in smokers are much slower