UPDATE 1-British American Tobacco lifts annual growth forecast for smoking alternatives

Adds background in paragraph 2

June 2 (Reuters) - British American Tobacco BATS.L raised its forecast for revenue from smoking alternatives like vapes on Tuesday, partly thanks to strong demand in the U.S., where the company is actively preparing to launch new products after a significant policy shift.

The Lucky Strike and Dunhill cigarette maker is leaning further into smokeless products to drive growth, as the FDA's decision to exercise enforcement discretion on certain unauthorized nicotine products opens the door for the firm to roll out new versions of its Vuse vapes and Velo pouches in its largest market.

BAT now expects annual revenue growth from its new category segment to be in the mid-teens, up from its prior forecast of low double-digit growth.


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