TOKYO/LONDON (Nov 8): British American Tobacco PLC (BAT) plans to test a new tobacco-based cigarette alternative in Japan next month, it said on Tuesday, taking aim at Philip Morris International Inc's popular iQOS and Japan Tobacco Inc's Ploom Tech. BAT said it plans to launch its new product, called "glo", on Dec 12 in the northeastern city of Sendai. Philip Morris chose Japan as a test market for its "heat not burn" product due in part to regulations around nicotine liquid. "At this moment, we are seeing far greater demand than our expectations and iQOS devices sell out as soon as they hit stores," said a Philip Morris Japan spokeswoman. Japan Tobacco has also said production of its Ploom Tech has not caught up with demand.

Source: The Edge Markets November 08, 2016 08:55 UTC