Palm Beach, FL – July 7, 2021- The Heat-not-burn market has been growing for the last few years and is projected to continue for several years to come. Heat-not-burn devices produce a vapor containing nicotine and these can be used multiple times, which is making it popular among youngsters as they do not have to spend much for multiple purchases. As such, the devices can also be used for longer periods of time. Further, the technological improvements have led to the development of heat-not-burn devices that produce large amounts of vapor, which is seeing increased preference among enthusiasts. Heat-not-burn devices have helped many smokers quit smoking thus, making them an effective substitute for smoking. Such factors are expected to accelerate the adoption of heat-not-burn devices among individuals. A report from Grand View Research said that the global heat-not-burn market size was valued at USD 7.3 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 32.8% from 2020 to 2027. The market is driven by the continuous decline in traditional cigarette sales with rising demand for possibly Reduced Risk Products (RRPs). Heat-not-burn devices do not burn tobacco, instead, they implement the use of convective and radiant heat. Thus, the devices have a low presence of nicotine and chemicals. Further, the rising prohibition and taxes on cigarettes across different countries and the growing awareness of the dangerous side-effects of tobacco consumption are driving the growth of this heat-not-burn (HNB) device market. The health risks related with chewing tobacco and cigarettes are estimated to drive the adoption of heat-not-burn devices, particularly among young population. Active companies in the markets this week include: Poda Lifestyle and Wellness Ltd. (OTCPK: PODAF) (CSE: PODA), Philip Morris International Inc. (NYSE: PM), TAAT Global Alternatives Inc. (OTCQX: TOBAF) (CSE: TAAT), British American Tobacco p.l.c (NYSE: BTI), Altria Group, Inc. (NYSE: MO).
The Grand View Research report said: “The low risks and high demand are expected to urge global manufacturers to invest in the market for heat-not-burn devices. Moreover, heat-not-burn devices are getting approval from regulatory authorities for sale in big markets such as the U.S., China, and Europe, which is anticipated to bode well for market growth. For instance, in 2018, Philip Morris International Inc. received U.S. FDA approval for the sale of heat-not-burn devices in the U.S. The rising online sales and marketing promotions by the manufacturers are expected to drive the heat not burn devices market in the forthcoming years.”
Poda Lifestyle and Wellness Ltd. (OTCPK: PODAF) (CSE: PODA.CN) BREAKING NEWS: Poda Lifestyle and Wellness Ltd. (OTCPK: PODAF) (CSE: PODA) (FSE: 99L) (“Poda” or the “Company”) is pleased to announce that former Head of Corporate Affairs for JUUL Labs Inc. Nicholas Kadysh has joined Poda as a member of the Global Advisory Board.
With over a decade of experience as a public affairs and regulatory expert, Mr. Nicholas (“Nick”) Kadysh has led government relations and regulatory departments for a number of large corporations, including acting as Head of Corporate Affairs for JUUL Labs Inc., as Government Affairs & Public Policy Leader for General Electric Canada, and as Director of Public Affairs for Red Bull Canada. Nick is currently the founder and CEO of PharmAla Biotech.
Prior to his work in the corporate sector, Mr. Kadysh gained a deep understanding of government as a campaign and legislative staff member in multiple levels of government, most recently directing the Outreach department of the Office of the Leader of the Opposition at Queen’s Park in Toronto. He has also worked at the Canadian Parliament as a policy advisor. Mr. Kadysh is trilingual (English, French & Russian) and is a graduate of Queen’s University. He is active in non-profit and community initiatives in Toronto, including fundraising for Toronto East General Hospital and as a member of the board for Yonge-Dundas Square.
Mr. Kadysh commented “I believe that Poda is well poised to gain significant market share in the rapidly growing heat-not-burn market. With my vast experience in public affairs and as a regulatory expert, I look forward to helping guide Poda as they continue their global expansion. Entering highly regulated markets requires careful planning and skillful execution, and there are many potential pitfalls to be avoided. As a member of Poda’s Global Advisory Board, I look forward to helping the Company make smart decisions that will lead to rapid and sustainable growth on a global scale. Poda’s one-of-a-kind heat-not-burn technology has the potential to make a big difference in the lives of nearly 1.3 billion cigarette smokers around the globe, and I look forward to contributing to this positive change on a worldwide scale.”
Mr. Michael Nederhoff, previously the president of JUUL Labs Canada and a current member of Poda’s Global Advisory Board, commented “Having worked closely with Nick at Juul Labs Canada, I can personally attest to the skill and expertise that Nick brings to the table. Nick has a wealth of regulatory experience across various categories and in multiple countries which will be invaluable as we scale the business.” CONTINUED… Read this full release and more news for Poda Lifestyle and Wellness at: https://www.financialnewsmedia.com/news-poda/
Other recent developments in the markets include:
Philip Morris International Inc. (NYSE: PM) recently announced it has entered into an agreement to acquire Fertin Pharma A/S (Fertin Pharma), a leading developer and manufacturer of innovative pharmaceutical and well-being products based on oral and intra-oral delivery systems, for an enterprise value of DKK 5.1 billion (approximately USD 820 million1).
“The acquisition of Fertin Pharma will be a significant step forward on our journey toward delivering a smoke-free future—enhancing our smoke-free portfolio, notably in modern oral, and accelerating our progress in beyond nicotine,” stated Jacek Olczak, Chief Executive Officer. “Both PMI and Fertin share a commitment to science and consumer-centric innovations for better living, and I am delighted we have reached this agreement. Fertin’s diverse portfolio of technologies, evolving business mix, and world-class expertise will enrich our innovation pipeline and capabilities, providing speed and scale in oral delivery to support our 2025 goals of generating more than 50% of our net revenues from smoke-free products and at least USD 1 billion from products beyond nicotine.”
Altria Group, Inc. (NYSE: MO) held its 2021 Annual Meeting of Shareholders (Annual Meeting) recently. During the Annual Meeting, Billy Gifford, Altria’s Chief Executive Officer, summarized Altria’s full-year 2020 and first-quarter 2021 financial results and discussed Altria’s progress towards its Vision of responsibly transitioning adult smokers to a non-combustible future. Mr. Gifford also shared Altria’s corporate responsibility priorities and environmental, social and governance efforts, reaffirmed Altria’s guidance for adjusted diluted earnings per share (EPS) and addressed shareholder questions. Copies of these prepared remarks and business presentation and a replay of the audio webcast of the Annual Meeting are available on altria.com.
New research published recently in the journal, Internal and Emergency Medicine, provides the first real-world evidence that people switching from cigarettes to exclusive use of glo, British American Tobacco p.l.c.’s (NYSE: BTI) (BAT) flagship Tobacco Heating Product (THP), can significantly reduce their exposure to certain toxicants and indicators of potential harm related to several smoking-related diseases compared with continuing to smoke.
TAAT Global Alternatives Inc. (OTCQX: TOBAF) (CSE: TAAT) recently announced its financial results for the three months ended April 30, 2021 (“Q2 2021”). Revenue rose more than 300% sequentially over the previous quarter (“Q1 2021”), reflecting a faster-than-anticipated rollout and strong uptake at both the distributor and end-customer levels. All monetary figures in this press release are in Canadian dollars unless stated otherwise.
During this period, which was the first full quarter in which TAAT™ was sold at retail, the Company made several key accomplishments to include launching e-commerce to complement retail sales, upgrading its common shares (the “Common Shares”) to the OTCQX® Best Market, landing its first major sporting event sponsorship, and obtaining its first mainstream media coverage in Forbes. Furthermore, the Company has already built upon the milestones achieved in Q2 2021 with TAAT™ now sold in more than 300 Ohio retailers, new store placements in both Illinois as well as Georgia, and an international distribution relationship in the United Kingdom and Ireland.
The results, recorded at 6-months of a 12-month study, showed that switching completely to glo resulted in statistically significant changes across a range of “biomarkers of exposure” (BoE)**, and indicators of potential harm, known as “biomarkers of potential harm” (BoPH)**, compared with continuing to smoke.
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