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The 55+ age group, while the smallest at approximately 19.2% of revenues, represents a stable and growing consumer base of older smokers motivated by doctor-advised smoking reduction, longer-term health preservation goals, and the harm-reduction narrative

British American Tobacco has made deleveraging a priority

Over time, this can increase the risk of nicotine dependence

Backers hope the higher cost of cigarettes would discourage young people from smoking while raising money for anti-smoking campaigns and research on tobacco-related illnesses