Brief: Altria Announces Strategic Partnership With Jt Group And Expanded Heated Tobacco Portfolio

JAPAN TOBACCO

27/10/2022 11:40

Oct 27 (Reuters) - Altria Group Inc  MO.N :
    * ALTRIA ANNOUNCES STRATEGIC PARTNERSHIP WITH JT GROUP AND
EXPANDED HEATED TOBACCO PORTFOLIO
    * ALTRIA GROUP INC - CO AND JT GROUP ANNOUNCE JOINT VENTURE
FOR
U.S. MARKETING AND COMMERCIALIZATION OF HEATED TOBACCO STICK
PRODUCTS
    * ALTRIA GROUP INC - PM USA ENTERED INTO JV WITH SUBSIDIARY
OF JT,
JAPAN TOBACCO INTERNATIONAL FOR U.S. MARKETING AND
COMMERCIALIZATION OF HTS PRODUCTS
    * ALTRIA GROUP - JV IS STRUCTURED TO EXIST IN PERPETUITY AND
ESTABLISHES HORIZON INNOVATIONS LLC
    * ALTRIA GROUP INC - PM USA HOLDS A 75% ECONOMIC INTEREST IN
HORIZON, WITH JTI HAVING A 25% ECONOMIC INTEREST
    * ALTRIA GROUP - PARTIES EXPECT TO COMBINE SCIENTIFIC AND
REGULATORY EXPERTISE TO JOINTLY PREPARE FDA FILINGS FOR LATEST
VERSION OF PLOOM HTS PRODUCTS
    * ALTRIA GROUP INC - PARTIES CURRENTLY EXPECT TO SUBMIT
PRE-MARKET
TOBACCO PRODUCT APPLICATIONS (PMTA) FOR THESE PRODUCTS IN FIRST
HALF OF 2025
    * ALTRIA GROUP INC - UPON PMTA AUTHORIZATIONS, HORIZON WILL
BECOME
EXCLUSIVE ENTITY THROUGH WHICH PARTIES MARKET AND COMMERCIALIZE
HTS PRODUCTS IN U.S.
    * ALTRIA GROUP INC - JTI WILL SUPPLY PLOOM HTS DEVICES AND
PM USA
WILL MANUFACTURE MARLBORO HTS CONSUMABLES FOR U.S.
COMMERCIALIZATION

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