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In 2016, menthols represented about half of Reynolds's $12.5 billion revenue." Should menthol cigarettes ultimately be banned in America, this deal will not only have been a major waste of capital, but it would leave the company saddled with debt that needs to be serviced by a much smaller cash flow stream than management expected

Over the coming years, experts said, FDA regulators will wrestle with a basic question about e-cigarettes and the fast-growing range of other vaping devices: Even if they pose some dangers to consumers, are they safer than cigarettes

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Its role in smoking cessation is currently unclear but likely could be beneficial