Philip Morris, Altria Suffer Setback in Patent Fight With British American Tobacco

Electronic heated tobacco device IQOS may be banned in the U.S. after an initial determination reached by an International Trade Commission (ITC) judge found the device from Philip Morris International (NYSE: PM) infringed on patents by British American Tobacco (NYSE: BTI). Altria (NYSE: MO), which is responsible for the manufacture, marketing, and sale of the device in the United States could be most affected. The IQOS is the global leader in e-cigarette sales, but the U.S. is its biggest market.