KT&G, PMI to submit unreleased tobacco product for U.S. FDA approval

Industry

KT&G, PMI to submit unreleased tobacco product for U.S. FDA approval

Published: 31 Jul. 2024, 19:21

CHO YONG-JUN
cho.yongjun1@joongang.co.kr

[KT&G]

KT&G signed an agreement with the Connecticut-based Philip Morris International (PMI) on Tuesday to file a premarket application for the tobacco firm’s upcoming heated tobacco products in the United States.

The application will be submitted to the country's Food and Drug Administration.

KT&G granted PMI exclusive rights to commercialize the next generation of its heat-non-burn cigarettes, marketed under the name lil, outside of Korea in January 2023.

The companies plan to release the products in other countries while awaiting U.S. approval.

Heat-non-burn cigarettes heat up tobacco to generate a vapor rather than burning it. PMI is known for its IQOS lineup of heat-non-burn products.

“The company is currently pursuing structural change and global expansion based on three core businesses: heat-non-burn products, sales of cigarettes in the foreign market and the health functional foods,” KT&G CEO Bang Kyung-man said. “We will try our best to achieve our long-term vision of being the ‘global top-tier’ through the next-generation heat-non-burn products and our research and development skills.”

BY CHO YONG-JUN [cho.yongjun1@joongang.co.kr]