· Business (Tobacco)
· Business (General)
· Harm Reduction
· Reynolds American
|Jump to full article: PR Newswire, 2009-12-02|
Author: SOURCE Reynolds American Inc.
Reynolds American Inc. (NYSE: RAI) has reached an agreement to purchase all outstanding shares of the Swedish-based nicotine replacement therapy company Niconovum AB for 310 million Swedish kronor, or approximately $44 million.
Niconovum markets innovative nicotine replacement therapy (NRT) products under the Zonnic brand name in Sweden and Denmark. Its nicotine gum, mouth spray and pouches use proprietary technology for nicotine delivery.
"We believe the technology used in our Zonnic products better meets consumer preferences than other NRTs currently on the market," said Nils Siegbahn, president and chief executive officer of Niconovum. "With today's announcement, Niconovum will have access to the capital it needs to expand distribution of Zonnic to additional markets, and accelerate product refinements and new product development."
"Niconovum's products have great potential in meeting consumer demand and public health objectives," said Susan M. Ivey, chairman, president and chief executive officer of Reynolds American. "This acquisition extends the harm-reduction strategies RAI and its operating companies have been developing over the past several years.
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