Business
US supply agreement for nicotine chewing gum
US supply agreement for nicotine chewing gum.
About this update from Itaconix Plc
[{"type":"text","content":"\n \nRNS Number : 0993J Revolymer PLC 09 June 2014 \n \n\n9 June 2013\nRevolymer plc (\"Revolymer\" or \"the Company\")\nRevolymer signs US supply and distribution agreement for its nicotine chewing gum with PL Developments\nRevolymer plc (\"Revolymer\"), the British polymer technology company, is delighted to announce that it has signed a supply and distribution agreement for its nicotine chewing gum products for the United States of America with PL Developments LLC (\"PLD\"), a leading US manufacturer and supplier of over-the-counter (OTC) products. Under the terms of the agreement, PLD will be responsible for marketing, sales and distribution of Revolymer's nicotine gum products within this territory.\nThe US represents the single largest nicotine gum market, with a single regulatory authority, the Food and Drug Administration (FDA). According to market estimates agreed between PLD and Revolymer, the US nicotine gum market has a current retail value of nearly $500 million per annum, of which more than half is private label, and the balance branded products.\nRevolymer's nicotine chewing gum products offer a number of consumer benefits in comparison to currently marketed nicotine gum including a more confectionery-like chew and faster release of nicotine. Under the agreement, PLD plans to market and sell private label formats of Revolymer's nicotine chewing gum products to its broad customer base including all major mass merchandiser, drug, food, dollar channel, and club store retailers.\nThe agreement is subject to regulatory approval of Revolymer's products and the preparation of an application for marketing approval is currently under discussion with the FDA.\n\"We are excited to have closed this significant deal covering the substantial US market for nicotine gum. The team at PLD is very experienced at packaging and distributing OTC pharmaceutical products and consumer healthcare goods nationally across America to major grocery, mass merchandiser, and pharmacy chains, and we look forward to a mutually fruitful relationship going forward. We are now focused on preparing a regulatory dossier with view to filing for and gaining marketing approval for our nicotine gum products in the US.\" said Robin Cridland, Acting CEO of Revolymer.\n\"We are very happy to have signed this agreement with Revolymer covering its nicotine...