TIDMBATS
RNS Number : 6200Y
British American Tobacco PLC
03 January 2020
British American Tobacco p.l.c.
3 January 2020
BRITISH AMERICAN TOBACCO WELCOMES FDA GUIDANCE AS A FURTHER STEP
TOWARD A SUSTAINABLE REGULATORY ENVIRONMENT FOR THE US VAPOUR
MARKET
-- British American Tobacco (BAT) welcomes the U.S. FDA's
acknowledgment that a properly regulated vapour category continues
to provide a credible alternative to smoking
-- Appropriate enforcement will ensure the sustainability of
adult consumer choice across all product categories
-- BAT's U.S. subsidiary, Reynolds American Inc. (RAI), stands
ready to comply with the new flavour guidelines
-- RAI has already submitted its first brand PMTA application
and is well positioned to make further applications for the rest of
its vapour portfolio ahead of the May 2020 deadline
-- RAI is confident that, as required by the PMTA process, all
VUSE products will be shown to be appropriate for the protection of
public health
British American Tobacco (BAT) welcomes the U.S. FDA's
acknowledgement that a properly regulated vapour category continues
to provide a credible alternative to smoking, whilst also
highlighting the important issue of preventing the access and
appeal of vapour products to youth. Following a significant period
of disruption and uncertainty, this regulatory clarity is a welcome
step towards returning the US vapour market to stability.
British American Tobacco Chief Executive Officer, Mr Jack Bowles
noted:
"Yesterday's announcement takes us a step closer to a
predictable regulatory environment in a key marketplace, but focus
must now shift to enforcement to ensure vapour market regulations
are effective.
"We have long said it is not the marketing of these products per
se that is the concern, it is the irresponsible marketing of them
that should be robustly addressed. For us, smart regulatory
frameworks partnered with responsible marketing and appropriate
enforcement will ensure the sustainability of adult consumer choice
across all categories."
The guidance the FDA has provided, together with the previously
announced requirement to submit PMTAs by May 2020 for all products,
is a positive step and will help ensure consumers have access to
appropriately regulated, quality-assured products that do not
appeal to or are accessible to youth.
Importantly, the guidance is clear that flavours can return to
the market place once they have been cleared through the PMTA
process.
Mr Bowles continued:
"Millions of adult tobacco consumers are looking for an
alternative to cigarettes and it's important to remember that
properly regulated flavours can play an important role in the
choice of adult tobacco consumers to transition to vapour products
as an alternative to cigarettes."
"Our US subsidiary, RAI Group, has already submitted one brand
PMTA for VUSE Solo and is well positioned to submit applications
for the remaining VUSE portfolio ahead of the deadline of May 2020.
We are confident that, as required by the PMTA process, all VUSE
products will be shown to be appropriate for the protection of
public health."
BAT has long argued for sustainable regulatory frameworks for
its new category products. BAT believes in providing adult
consumers with vapour systems that are hard to adulterate;
providing new category products which are supported by world class
science and product stewardship; offering a range of flavours which
ensure adult consumer satisfaction whilst not appealing to youth;
and marketing freedoms to drive category adoption among adult
consumers.
Mr Bowles concluded:
"We will continue to work with the U.S. FDA throughout the
implementation of this new regulatory framework to make sure
consumers have access to quality-assured products whilst doing our
utmost to ensure that vaping remains positioned as a credible
option for smokers looking for an alternative to tobacco."
Enquiries
Press Office
+44 (0) 20 7845 2888 (24 hours) | @BATPress
Investor Relations
Mike Nightingale / Rachael Brierley / John Harney
+44 (0) 20 7845 1180 / 1519 / 1263
Forward looking statements
References to 'British American Tobacco', 'BAT', 'we', 'us' and
'our' when denoting opinion refer to British American Tobacco
p.l.c. (the Company, and together with its subsidiaries, the
"Group"), and when denoting tobacco business activity refer to
Group operating companies, collectively or individually as the case
may be. This announcement contains certain forward-looking
statements, including those made within the meaning of Section 21E
of the United States Securities Exchange Act of 1934, regarding our
intentions, beliefs or current expectations reflecting knowledge
and information available at the time of preparation and
concerning, amongst other things, prospects, growth, strategies,
compliance with regulatory guidelines, our ability to submit
further regulatory applications, the success of our regulatory
applications and the economic and business circumstances occurring
from time to time in the countries and markets in which the Group
operates. BAT undertakes no obligation to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise. Readers are cautioned not to place
undue reliance on such forward-looking statements.
These statements are often, but not always, made through the use
of words or phrases such as "believe," "anticipate," "could,"
"may," "would," "should," "intend," "plan," "potential," "predict,"
"will," "estimate," "strategy" and similar expressions. It is
believed that the expectations reflected in this announcement are
reasonable but they may be affected by a wide range of variables
that could cause actual results to differ materially from those
currently anticipated, including uncertainties related to the
impact of adverse domestic or international legislation and
regulation and adverse decisions by domestic or international
regulatory bodies.
Additional information concerning these and other factors can be
found in the Company's filings with the U.S. Securities and
Exchange Commission ("SEC"), including the Annual Report on Form
20-F filed on 15 March 2019 and Current Reports on Form 6-K, which
may be obtained free of charge at the SEC's website,
http://www.sec.gov, and the Company's Annual Reports, which may be
obtained free of charge from the British American Tobacco website
www.bat.com.
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