But that's not the only good news for Philip Morris ( PM ) and the tobacco industry.
Despite projections indicating cigarette smoking will kill approximately 5 million people per year, nicotine - the fiercely addictive stimulant in the tobacco plant - has been mounting a comeback for the past few years, The Washington Post reports .
Ten years after the state of Maryland bought out tobacco farmers in the southern part of the state, researchers with the University of Maryland have determined numerous health benefits, including its ability to halt cognitive decline while assisting individuals endure the ravages of degenerative diseases like Alzheimer's and Parkinson's. It offsets symptoms of depression and schizophrenia while helping maintain the focus of people with attention issues.
But not all Southern Maryland farmers accepted the bailout.
"I didn't want to sell my heritage, simple as that," 71-year-old Bobby Anderson of Southern Maryland told The Post, noting he does not use tobacco in any form yet has enjoyed a comfortable lifestyle as a grower for the Richmond, Virginia -based tobacco company. "But tobacco has been very good to me."
At 10:44 a.m., Philip Morris stock prices increased 2.16 percent, a $1.58 increase to $74.67 per share . TheStreet reports its previous high was $73.46 per share.