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British American Tobacco and The Past, Present, and Future of the Nicotine Industry With Devin LaSarre
Sep 9, 2022
Devin LaSarre, an expert on British American Tobacco and the nicotine industry, joins Brett and Ryan to discuss the company's business model, valuation, and the impact of declining smoking rates. They also explore the potential of next-gen tobacco products and the risks associated with investing in British American Tobacco.
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Quick takeaways
- The potential growth of the tobacco industry lies in non-combustible products like vaping and modern oral products, which are seen as reduced-risk alternatives.
- British-American Tobacco (BTI) has the opportunity to leverage its diverse product portfolio and global presence to capitalize on the demand for reduced-risk alternatives, despite potential risks such as regulation, competition, and ESG concerns.
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Overview of the Podcast
In this podcast episode, Devin LaSar provides an overview of the tobacco industry and specifically focuses on British-American Tobacco (BTI). He discusses the history of tobacco, from its origins to its global proliferation. LaSar highlights the inelastic demand and pricing power of cigarettes, as well as the potential for future growth in the industry. He also delves into the non-combustible category, including vaping, heated tobacco products, and modern oral products. LaSar emphasizes the potential of these products as reduced-risk alternatives and the role they may play in the future of the tobacco industry. He analyzes BTI's current geographical distribution, revenue growth, and profitability in these new categories, as well as their valuation and risks associated with future regulation, competition, global dynamics, and ESG concerns.
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