British American Tobacco to launch synthetic nicotine pouches
Adds details, executive quote and background from paragraph 3
LONDON, Oct 16 (Reuters) -British American Tobacco (BAT) BATS.L will launch a version of its Velo nicotine pouches using synthetic nicotine in the United States, David Waterfield, president of the company's U.S. subsidiary Reynolds American, said on Wednesday.
Smoking alternatives like vapes from big tobacco companies, including BAT, usually contain naturally occurring nicotine derived from the tobacco plant, whereas synthetic nicotine is made in a lab from chemicals.
Waterfield said BAT's new Velo product, Velo Plus, due to launch in 2025 and offering more nicotine strengths, contained synthetic nicotine - one of the first clear examples of synthetic nicotine use by a big tobacco company.
"Nicotine derived from tobacco and synthetic nicotine, from a chemical point of view, they are the same," Waterfield told investors at a capital markets event.
He added that BAT would look at other opportunities in synthetic nicotine going forward.
Synthetic nicotine began being used more widely in the United States in recent years as a means to avoid a lengthy application process with the U.S. Food and Drug Administration (FDA), which manufacturers were required to undergo in order to market new nicotine products.
It has so far been used mostly by smaller manufacturers of vapes or nicotine pouches, which users insert under the lip to get a buzz.
Initially, the FDA only had authority over naturally occurring nicotine, so manufacturers of synthetic nicotine products did not have to follow the FDA's application process. The law was changed in April 2022.
Waterfield said that Velo Plus was a product it acquired. An FDA application for the product was submitted by its previous owner before a May 2022 deadline, meaning it can stay on the market while its application is pending.
BAT estimates that the size of U.S. industry-wide vape revenues will grow from around 9 billion pounds ($11.7 billion) today to up to 14 billion pounds by 2030, Waterfield said. It expects U.S. nicotine pouch industry revenues to grow from 1.7 billion pounds to up to 7 billion pounds over the same period.
BAT sees current U.S. combustible tobacco revenue declines of around 9% as "abnormal", Waterfield said, adding BAT expects U.S. industry revenue growth to settle at around 1% for the rest of the decade.
($1 = 0.7682 pounds)
Reporting by Emma Rumney; Editing by Louise Heavens and Mark Potter
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
