Philip Morris International Inc. soared to a record after reporting better-than-expected profit driven by sales of Zyn nicotine pouches.

Zyn has taken the U.S. by storm. The nicotine pouch brand's boom came at an opportune time for parent company Philip Morris International, which faced years long decline in cigarette smoking. The FDA earlier this month authorized 20 Zyn products to be marketed and sold on the U.

Philip Morris International Inc.’s stock touched a record high on Thursday after the company issued a profit outlook that topped Wall Street analyst expectations on strength in its smokeless-tobacco products. Philip Morris cited growth in Iqos, its inhalable smoke-free product, as well as Zyn nicotine pouches, which won FDA authorization in 2024.