Welcome to our dedicated page for British American Tobacco p.l.c. American Depositary Shares, American Depositary Shares, each representing one Ordinary Share news (Ticker: BTI), a resource for investors and traders seeking the latest updates and insights on British American Tobacco p.l.c. American Depositary Shares, American Depositary Shares, each representing one Ordinary Share stock.
British American Tobacco p.l.c. (BAT) is a British multinational company, established in 1902 and headquartered in London, England. As of 2019, it holds the title of the largest tobacco company in the world based on net sales. BAT's core business revolves around manufacturing and selling cigarettes, tobacco, and other nicotine products. The company’s notable brands include Dunhill, Kent, Pall Mall, Lucky Strike, Rothmans, Newport, and Camel. They also offer vapor e-cigarettes under the Vuse brand, heated tobacco products with Glo, and Velo modern oral tobacco products.
British American Tobacco has made significant strides in expanding its market presence. The acquisition of Reynolds American has positioned BAT as a close competitor to Philip Morris International, making it a key player in the global tobacco industry. BAT is also a major shareholder in ITC Limited, India's leading cigarette-maker, with a 29% stake.
The company doesn't just focus on traditional tobacco products; it is significantly invested in new categories. BAT’s Vuse e-cigarettes, Glo heated tobacco, and Velo oral products are part of its commitment to providing consumers with potentially reduced-risk tobacco and nicotine alternatives.
Financially, BAT's performance remains robust, driven by its expansive product range and global reach. The firm's strategy is underpinned by strong investments in research and development (R&D) to innovate and expand their portfolio towards more sustainable options. Through various partnerships and acquisitions, BAT continues to solidify its position in the market.
Recent developments underline the company's adaptability and growth potential. For instance, through its subsidiary DeFloria LLC, BAT is entering the botanical drug market, targeting a neurological condition with a new investigational drug. DeFloria intends to proceed with Phase 2 clinical trials in 2024, following the successful completion of Phase 1.
Overall, British American Tobacco is a pivotal entity in the global tobacco sector, balancing traditional products with innovative alternatives to meet evolving consumer preferences and regulatory landscapes.
Charlotte's Web reported financial results for the first quarter of 2024, showing a decrease in revenue compared to the same period in 2023. The company is focusing on its 'True North' initiatives to enhance the consumer experience, expand product offerings, and improve cost efficiencies. Despite revenue challenges in the CBD industry, the company remains optimistic about its future growth.
Charlotte's Web Holdings has formed a Joint Venture (JV) with AJNA BioSciences, funded by a $10 million investment from British American Tobacco (BAT), which acquires a 20% stake. Each party, including Charlotte's Web and AJNA, holds 40% voting rights. The JV aims to develop a novel botanical drug targeting neurological conditions and plans to file an Investigational New Drug (IND) application with the FDA in 2023. Dr. Orrin Devinsky will lead the clinical strategy and development. This collaboration allows Charlotte's Web to leverage its proprietary hemp genetics and clinical data for drug development, aiming to offer alternatives to current neurological treatments.
Charlotte's Web Holdings reported a significant 28% reduction in 12-month operating expenses and a net cash position of $67 million as of December 31, 2022. The company experienced a 23.8% year-over-year decline in fourth-quarter revenue to $18.9 million, primarily due to lower retail and online sales. Despite lower revenue, operating loss improved to $32 million from $118 million in Q4 2021. The company secured a $56.8 million investment from British American Tobacco and became the Official CBD of Major League Baseball. The firm is focusing on international expansion, regulatory engagement, and new product launches.
Charlotte's Web Holdings (CWBHF) announced a US$56.8 million investment from a subsidiary of BAT (BTI) through a convertible debenture. This investment allows for a 19.9% non-controlling equity stake in Charlotte's Web and is aimed at funding growth initiatives and enhancing R&D capabilities. The additional capital will boost Charlotte's Web's pro-forma cash to approximately US$65 million. The terms include a 5% annual interest rate, reducing to 1.5% under certain conditions, and allows BAT to nominate board members while holding a significant stake.
FAQ
What is the current stock price of British American Tobacco p.l.c. American Depositary Shares, American Depositary Shares, each representing one Ordinary Share (BTI)?
What is the market cap of British American Tobacco p.l.c. American Depositary Shares, American Depositary Shares, each representing one Ordinary Share (BTI)?
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What is DeFloria LLC?
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How is BAT contributing to sustainable alternatives?
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