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Philip Morris International (PM) shares closed higher on Aug. 24 after announcing a contract manufacturing agreement with Altria Group (MO). Under the arrangement, PM's non-U.S. affiliates will work with Philip Morris USA on combustible-cigarette manufacturing, with initial shipments expected to begin in early 2027.
Following today's rally, Philip Morris stock is up nearly 25% versus its year-to-date low.
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2 months ago

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