Altria Group, Inc. (Altria) (NYSE: MO) announced today that it has entered into a series of agreements with Philip Morris International Inc. (PMI). These agreements between the companies’ subsidiaries address intellectual property licensing, regulatory engagement and contract manufacturing. In particular:
- Altria is providing PMI with an exclusive license to commercialize Altria’s e-vapor products internationally;
- PMI is providing Altria, on an exclusive basis, two of PMI’s heated tobacco products for commercialization in the United States; and
- the parties are cooperating on scientific assessment, regulatory engagement and sharing improvements regarding those products.