logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A former Southwest Airlines employee has filed a racial discrimination lawsuit against the airline, alleging that the carrier allowed its employees to create a "whites-only" breakroom. The lawsuit was filed in the United States District Court in Houston earlier this week by Jamel Parker, a former employee of Southwest Airlines. American Airlines Inc. has joined its major rivals in raising baggage fees as the airline industry grapples with higher fuel costs and rising operating expenses. The largest U.S. airline said Thursday it is raising the price of a first and second checked bag by $5 each. The price of a first checked bag is now $30, while it is $40 for a second checked bag. The takeover battle by Comcast Corp. nd Rupert Murdoch's 21st Century Fox Inc. for British broadcaster Sky plc will be settled through an auction. The UK Takeover Panel said Thursday that an auction procedure is expected to commence on the evening of Friday, September 21, 2018 and end on the evening of September 22, 2018. The winner of the auction will be announced on Saturday.
Follow RTT