Business
22nd Century Group (Nasdaq: XXII) to Expand VLN® Sales in Three Additional States: Arizona, Utah and New Mexico
Combined with Ongoing Launch in Colorado, VLN® Will Be Available in All “Four Corners” StatesUtah and New Mexico Join Colorado as VLN® States with Favorable
About this update from 22nd Century Group, Inc
[{"type":"text","content":"Combined with Ongoing Launch in Colorado, VLN® Will Be Available in All “Four Corners” StatesUtah and New Mexico Join Colorado as VLN® States with Favorable MRTP Excise Tax Programs BUFFALO, N.Y., Oct. 26, 2022 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), a leading agricultural biotechnology company dedicated to improving health with reduced nicotine tobacco, hemp/cannabis, and hops advanced plant technologies, today announced that the Company has further expanded on the previously announced launch of its VLN® reduced nicotine content cigarette products in Colorado with the addition of Arizona, Utah and New Mexico, collectively known as the “Four Corners” states. 22nd Century will leverage both existing partners and new distribution networks in the additional states to make its VLN® products available to adult smokers in these markets. “We made clear that our statewide launch in Colorado and continued expansion in Illinois were just the first steps of our accelerated VLN® rollout. With the addition of three more states, we are moving ahead with our plans to rapidly make our innovative products available to a much larger portion of the adult smoker population in the United States,” said John J. Miller, president of 22nd Century’s Tobacco Business. “This is a massive market in need of new solutions to help adult smokers smoke less. Every 1% share of the U.S. market equates to approximately $800 million in sales at the register, which is about $500 million in revenue to a premium cigarette manufacturer.” “These four states will demonstrate our scalable and repeatable state launch blueprint for VLN®, which we are now leveraging to rapidly put our product in front of an ever-growing population of adult smokers looking for a way to smoke less. Additionally, we have the benefit of favorable MRTP excise tax structures for tobacco products sold in Utah and New Mexico, similar to the beneficial programs in Colorado, that can assist us in getting the word out to adults who can benefit from our products,” said Miller. “Expanding into the Four Corners gives VLN access to not only those states, but also adjacent geographies with concentrated centers of adult smokers, allowing us to market VLN in a streamlined and efficient manner.” 22nd Century Group’s proprietary VLN® cigarettes smoke, smell, and taste like a cigarette but co...