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Because of their narrow base, revenue from excise taxes tend to be unstable, and some sources of revenue (like taxes on tobacco) are in long-term decline

Rising Drug Trends in the U.S

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Further extending category leadership Volume share +5.7pts of Total Oral and +7.4pts of Modern Oral in top markets 5 Strong double-digit revenue growth, driven by industry growth and share gains Velo Plus is delivering excellent results in the U.S., driving total volume share of Modern Oral +10.4pts, expect strong financial performance in H1 and FY Continued share leadership in AME, over-indexing on value share, with strong financial performance 2.2 Vuse: Extending global value share leadership