NetworkNewsWire editorial coverage: Looks like yesterday people were smoking cigarettes everywhere; many people still have memories of grandfather puffing on his camels. It wasn’t until 1993 that smoking was banned in hospitals and in airplanes in 1998. Despite these and other restrictions, the global market for nicotine products remains incredibly robust. Total global retail sales associated with the nicotine ecosystem in 2020 reached approximately $853 billionwith approximately 5.2 trillion cigarette sticks sold at retail. Nicotine isn’t just big business, it’s big business, and companies are constantly looking for ways to retain and grow their market share.
The majors are increasingly turning to innovation and alternative delivery methods to achieve their goals. An example of this is the revolutionary technology ofLexaria Bioscience Corp. (NASDAQ: LEXX) (Profile)and its patented DehydraTECH(TM) delivery platform. Suitable for use in 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.
Several companies have already licensed the DehydraTECH technology and are paying royalties to Lexaria for its use. Lexaria has licensed DehydraTECH toAltria Group (NYSE: MO), the nation’s largest tobacco company, which is currently evaluating the technology for possible use in unburned oral nicotine products. Besides,British American Tobacco Industries plc ADR (NYSE: BTI)has done an initial assessment of Lexaria’s technology, and the market is waiting to hear if either company might implement it. Meanwhile,Philip Morris International (NYSE:PM)aggressively pursue tobacco-free nicotine productsGlaxoSmithKline PLC (NYSE:GSK)tries to wean people off nicotine
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