Philip Morris International (PMI) and KT&G, a South Korean manufacturer of tobacco and nicotine products, will collaborate on U.S. regulatory submissions for KT&G’s new heat-not-burn products.
On Tuesday PMI signed a memorandum of understanding with KT&G, which follows the companies’ announcement on Jan. 30, 2023, of an agreement providing exclusive rights for PMI to commercialize KT&G’s smoke-free products in markets outside South Korea.
KT&G’s new platform products are expected to be launched first outside the United States. The companies plan to work on a premarket tobacco product application (PMTA) for KT&G's newly-selected heat-not-burn products for review by the Food and Drug Administration (FDA).
“We want every adult smoker who does not quit smoking to switch to a science-backed, better alternative, for the benefit of their own and public health,” said Jacek Olczak, PMI’s CEO. “The heat-not-burn category, with different tiers of FDA-authorized products, has a pivotal role to play in making cigarettes obsolete in the U.S.”
President Bang Kyung-man of KT&G said in a statement that he company is currently pursuing global expansion and structural transformation centered on its three core businesses: next generation products (NGP), overseas cigarettes and health supplements.
“We will do our utmost to achieve our future vision of becoming global top-tier by leveraging innovative NGP products and scientific R&D capabilities that will be introduced to overseas markets,” he said.
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