HEADLINE

According to Reuters, Philip Morris International (PMI) lowered its 2026 adjusted earnings-per-share forecast amid regulatory uncertainty around Zyn nicotine pouches, rising competition and shipment pressure in the U.S. market.

As the U.S. vapor market faces FDA authorizations, import seizures and growing state-level restrictions, AVM President Allison Boughner told 2Firsts that state product registries and white-list systems are having the most immediate impact. She said distributors are placing greater weight on documentation, product origin and supply-chain transparency.

Argentina’s new tobacco and nicotine framework marks a shift from prohibition toward registration, traceability and health surveillance. Argentine THR advocate Juan Facundo Teme told 2Firsts that adult consumers and parts of the local commercial sector are cautiously optimistic, but concerns remain over flavor limits, registration costs and market access. The policy’s implementation may determine whether Argentina can move informal sales into regulated channels.

2Firsts explored whether hookah can evolve into a more mature and governable category by interviewing Dubai-based hookah company AIR. AIR argues that strong margins, OOKA’s closed-system model and the prospect of differentiated regulation could support that shift. The larger question is whether this is simply AIR’s capital-markets narrative, or an early sign that competition, regulation and category boundaries in hookah are beginning to change.

As the FDA advances efforts to streamline its PMTA review process, including support for small businesses, expectations are rising that additional product authorizations may follow. Age-verification technology is emerging as a key consideration in future approvals.In this interview, California-based Glas discusses its G2 platform, integrating smartphone-based identity verification, proximity controls and anti-counterfeit systems, and outlines its positioning under the FDA’s PMTA framework.