Tobacco giant loses legal action over Uruguay’s tobacco packaging rules

International tobacco company Philip Morris has lost its legal challenge against Uruguay’s tobacco packaging rules, which it argued violated its trade rights under investment agreements between Uruguay and Switzerland.

Philip Morris, which has its headquarters in Switzerland, first brought its case in 2010, claiming $25m (£19.3m; €22.6m) in damages over laws enacted in Uruguay in 2006 that banned tobacco advertising and smoking in public. Under Uruguay’s …