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Philip Morris Join Altria To Commercialize Reduced-risk Products And E-cigs

Cigarette manufacturer Philip Morris International, Inc. (PM) or PMI, Friday announced the establishment of a strategic framework with Altria Group, Inc.(MO), to commercialize reduced-risk products and e-cigarettes. Pursuant to the terms of a set of licensing, supply and cooperation agreements, Altria will make available its e-cigarette products exclusively to PMI for commercialization outside the U.S., while PMI will make available two of its candidate reduced-risk tobacco products only to Altria for commercialization in the U.S.

In the U.S., it is conceived that PMI's products would be regulated as Modified Risk Tobacco Products and any commercialization would be subject to the FDA approval.

"Further to our plans for international test market introduction of our candidate reduced-risk products as of the second-half of 2014, this agreement establishes a roadmap for commercialization in the U.S., subject to FDA authorization." said André Calantzopoulos, PMI's Chief Executive Officer.

by RTT Staff Writer

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