Philip Morris cares about one thing: keeping their dominance of the industry. They're the largest tobacco producer in the world. They knew that regulation was coming. Their only option was to write the regulations themselves, and that's what they did. Along the way, and for good measure, they wrote their main competition (R.J. Reynolds) out of the game by banning the last three years' worth of new products. Win win for PM. They get the exact regulatory bill they want and they get products that have a real chance of cutting into their margins removed from the market. Plus, no need to spend a bunch of money on R&D anymore, since any new products are forbidden.