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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] KT&G and PMI Sign MOU to Collaborate on U.S. PMTA Submission for New HNB Products
On July 30, KT&G announced that it has signed a memorandum of understanding (MOU) with global smokeless tobacco leader Philip Morris International (PMI). The agreement focuses on collaborating on the U.S. PMTA (Pre-Market Tobacco Application) submission for KT&G's new heat-not-burn (HNB) product, also known as NGP (Next Generation Product).
Last January, KT&G and PMI established a partnership where PMI would commercialize KT&G's NGP products in international markets.
The new MOU confirms their intent to collaborate on regulatory submission efforts for the new NGP product, which will be released in the U.S. if PMI decides to move forward.
KT&G's new NGP product is expected to be launched in markets outside the U.S. before the U.S. release. Following the MOU, both companies plan to work together to submit the PMTA to the U.S. FDA.
AlphaBIZ Kim Minyoung(kimmy@alphabiz.co.kr)
