KT&G signs MOU with Philip Morris for US submissions for new products

KT&G, the nation’s leading tobacco and nicotine product manufacturer, has signed a memorandum of understanding (MOU) with Philip Morris International (PMI), an American multinational tobacco company.

 

This cooperation is aimed at filing a U.S. Pre-market Tobacco Product Application (PMTA) submission for KT&G’s new heat-not-burn products, also known as NGPs.

Both KT&G and PMI recognize the importance of the U.S. market to advance their shared strategic vision of providing better alternatives to adult smokers across the globe with innovative scientifically substantiated NGPs.

Following the companies’ announcement on Jan. 30, 2023, regarding PMI's agreement to commercialize KT&G’s NGPs in markets outside Korea, this non-binding memorandum establishes the parties’ intent to collaborate on regulatory submissions for those new KT&G NGP products selected for commercialization by PMI in the United States.

KT&G’s new platform products are expected to be launched first outside the U.S. Thereafter, the partners plan to work on the PMTA submission for review by the U.S. Food and Drug Administration in accordance with the MOU.

“KT&G is currently enforcing global expansion and structural reform centered around its three core growth businesses: NGP, overseas conventional cigarettes and health-functional food, and will do its utmost to achieve the future vision of becoming a global top-tier company based on innovative NGP products to be rolled out in overseas markets as well as scientific R&D capabilities,” KT&G CEO Bang Kyung-man said.