Altria, Philip Morris to License, Distribute E-Cigarettes, Other Smokeless Products

Philip Morris International and Altria Group are joining forces globally to sell electronic cigarettes and other smokeless products, a bid by the tobacco behemoths to compensate for falling sales of combustible cigarettes.

The makers of the best-selling Marlboro cigarette are betting their combined firepower will give them a leg up on rivals in the small but fast-growing market for alternative nicotine products. Altria sells Marlboro exclusively in the U.S.; Philip Morris sells Marlboro everywhere else.