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[16] Race-specific advertising exacerbated small (a few percent) racial differences in menthol cigarette preferences into large (tens of percent) ones

So according to this scenario, BAT could grow its overall earnings by 3% per year to 2030 as long as (a) its NGP profits grow in line with expectations and (b) its combustibles business grows slowly to 2025 and then goes into slow decline

Links to BAT presentations*

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Unlike acetylcholine, nicotine activates cholinergic neurons in many regions of the brain simultaneously

doi:10.1207/S15327027HC1503_6