Altria starts cooperation with Japan Tobacco to develop the smoke-free products

On Thursday, the management of Altria Group Inc announced the start of cooperation with Japan Tobacco to increase the output of smoke-free products. 

Partners set up a company Horizon Innovations LLC that will promote heated tobacco products in the US. Both companies will develop the products for sale. Altria plans to invest $150 million of seed money into the new venture.

According to the management of Altria, the Horizon will be created via a subsidiary company Philip Morris USA. The 75% stake previously owned by Horizon comes into its possession. The remainder will be owned by JT, a subsidiary of Japan Tobacco International.

Companies plan to prepare together the filings for the last version of Ploom HTS, which aren’t currently in production. They will submit the filings to USFDA. At the beginning of 2025, the companies will submit the pre-market tobacco product applications.