logo
Plus   Neg
Share
Email

British American Tobacco Acquires Dryft Modern Oral Business

British American Tobacco p.l.c. (BATS.L,BTI), on Tuesday, announced that its US business has acquired the nicotine pouch product assets of Dryft Sciences LLC, a US-based Modern Oral nicotine product company.

The company noted that this acquisition expands its Modern Oral portfolio in the US, expanding from 4 to 28 product variants. The products would be sold under BAT's global Modern Oral nicotine brand, VELO, creating further brand synergies.

The expanded US VELO portfolio would now include three nicotine strengths (2mg, 4mg and 7mg) in 8 new flavours: Wintergreen; Spearmint; Cinnamon; Dragon Fruit; Citrus Burst; Black Cherry; Peppermint; and Coffee. These variants complement the existing US VELO portfolio, the company said.

The deal follows the acceptance of Dryft's recent Pre-Market Tobacco Product Application or PMTA submission for filing by the US Food and Drug Administration.

The acquisition has been made through Modoral Brands Inc., an indirect, wholly owned subsidiary of BAT's US subsidiary, Reynolds American Inc.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pfizer has uncovered the counterfeit versions of its Covid-19 vaccine in Mexico and Poland, according to a Wall Street Journal report. The vaccine was developed in partnership with Germany's BioNTech SE. Though there have been several reports of counterfeit versions of the Covid-19 vaccine, this seems to be the first confirmed instance. American Airlines is planning to resume hiring pilots this year to meet a rebound in travel demand in the summer season, reports said citing a company memo. The airline is expected to add 300 pilots by the end of the year and double that in 2022. Verizon Communications Inc. (VZ) reported a profit for the first-quarter that increased 25.4 percent from last year, reflecting growth in wireless service revenue, wireless equipment revenue and total Fios Internet net additions. Quarterly operating revenues rose 4.0 percent from the prior year.
Follow RTT