NetworkNewsWire Editorial Coverage: Seems like yesterday people were smoking cigarettes everywhere; many people still have memories of Grandpa puffing on his Camels. It wasn’t until 1993 that smoking was banned in hospitals and on airplanes in 1998. Despite these and many other restrictions, the global market for nicotine-based products remains incredibly robust. Total global retail sales associated with the nicotine ecosystem during 2020 reached approximately $853 billion with around 5.2 trillion retail cigarette sticks sold. Nicotine isn’t just big business, it’s huge business, and companies are constantly looking for ways to keep and grow market share.
The majors are evermore turning to innovation and alternative delivery methods to achieve their objectives. An example of that is the breakthrough technology of Lexaria Bioscience Corp. (NASDAQ: LEXX) (Profile) and its patented DehydraTECH(TM) delivery platform. Suitable for use across a wide range of product formats such as pharmaceuticals, nutraceuticals and over-the-counter products, Lexaria’s DehydraTECH also increases the delivery characteristics of orally administered nicotine.
Multiple companies have already licensed DehydraTECH technology and are paying royalties to Lexaria for its use. Lexaria has licensed DehydraTECH to the Altria Group (NYSE: MO), the largest tobacco company in the country, which is currently evaluating the tech for possible use in noncombusted oral nicotine products. In addition, British American Tobacco Industries p.l.c. ADR (NYSE: BTI) has conducted some early evaluation of Lexaria’s tech, and the market is waiting to hear if either company might implement it. Meanwhile, Philip Morris International (NYSE: PM) is aggressively pursuing tobacco-free nicotine products as GlaxoSmithKline PLC (NYSE: GSK) tries to wean folks from nicotine…
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