PRESS RELEASE | BIG tobacco double trouble? RJ Reynolds & BAT sign deal to collaborate on vapour technologies/R&D

DR B' BREAKING

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Extract from R.J. Reynolds’ official Press Release with British American Tobacco (BAT) in forming a framework of collaboration/cross-licensing of vapor product technologies

RJ Reynolds announced today that it has signed a technology-sharing term sheet with British American Tobacco (BAT). The term sheet provides a framework for collaboration and mutual cross-licensing of vapor product technologies through 2022. Specifics of the agreement have not yet been finalized by the companies, but the term sheet is the first step in reaching a definitive agreement under which RJ Reynolds and BAT will collaborate to develop next-generation vapor products.

The companies’ collaboration will include a process for joint research and development (R&D) activities and cooperation on regulatory, scientific, and manufacturing issues related to vapor products. RJ Reynolds and BAT continue to negotiate the specifics of their agreement with a goal of reaching a definitive contract by the end of 2015.

“This proposed technology-sharing agreement makes great business sense as we lead the transformation of the tobacco industry, allowing us to continue to deliver innovative, high-quality vapor products to adult tobacco consumers seeking smoke-free alternatives” said Debra Crew, RJ Reynolds’ president/chief commercial officer.

View/download R.J. Reynolds Tobacco Company signs vapor technology term sheet with British American Tobacco
View Reynolds, BAT move forward on vapor technology deal

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Richard Craver (22 September 2015) Reynolds, BAT move forward on vapor technology deal [online newspaper]. Retrieved from http://ow.ly/SyWLj

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