Industry Watch: Heat-Not-Burn Tobacco Products are about to Reach their Boiling Point Theodore L. Caputi Joseph Wharton Scholar, The Wharton School, University of Pennsylvania; Philadelphia, PA, USA Junior Fellow, Drug Policy Institute, Division of Addiction Medicine, Department of Psychiatry, University of Florida; Gainesville, FL, USA Corresponding Author: Theodore L. Caputi 3820 Locust Walk, Rm. 2111 Philadelphia, PA 19104 tcaputi@wharton.upenn.edu 267.312.8471 Keywords: Heat-not-burn, e-cigarettes, tobacco industry, financial analysis Word Count: 500