An exclusive supply agreement was also announced
MORRISVILLE, N.C. and
LOUISVILLE, Ky., Feb. 5, 2020 /CNW/ -- Pyxus International,
Inc. (NYSE: PYX), a global value-added agricultural company,
announced today its collaboration with Turning Point Brands, Inc.
(NYSE: TPB), a leading U.S. provider of Other Tobacco Products
(OTP) and adult consumer alternatives. The companies have chosen to
share certain science-based research and testing data in order to
form the foundation of some of their respective Premarket Tobacco
Product Applications (PMTAs) prior to submission to the U.S. Food
and Drug Administration (FDA). Additionally, the companies
announced that Turning Point Brands has signed a supply agreement
for its house brands of e-liquids, thereby expanding its existing
relationship with Pyxus' joint venture, Purilum, LLC, a
manufacturer of top-quality e-liquids, flavor concentrates and
finished bottle products.
All tobacco products introduced or modified after February 15, 2007, require premarket
authorization by FDA in order to be commercially marketed in
the United States. Pursuant to FDA
guidance, all PMTAs are due by May 12,
2020.
"We understand that in order to meet the rigorous requirements
of the FDA, we need reputable, like-minded partners," said
Pieter Sikkel, President, Chief
Executive Officer and Chairman of Pyxus. "Turning Point Brands,
which already has a strong relationship with our joint venture
Purilum, LLC, has continually demonstrated their commitment to
compliance and quality. We're pleased to be partnering with them to
benefit our respective PMTAs."
The companies will share various costs and key
data associated with extensive studies performed to support
their respective PMTA submissions. In addition, Purilum currently
provides the flavor formulations for some of TPB's next generation
products.
"Purilum has earned a well-deserved reputation for excellence in
flavor formulation and e-liquid production," said Graham Purdy, Chief Operating Officer of Turning
Point Brands. "The quality and consistency of their products are
exemplary, and we are excited to continue working with them, as
well as Pyxus, over the decades to come."
"We are proud to be partnering with Turning Point Brands, a
leader in the OTP space and an emerging leader in next generation
products. This enhanced relationship will be positive for all
parties," said Anthony Dillon,
Senior Vice President of Global Specialty Products and Managing
Director of E-liquids at Pyxus. "We are on track with the necessary
research and testing needed for PMTA filings."
Both Pyxus and Turning Point Brands anticipate submission of
their respective PMTAs on or before the May filing
deadline.
About Pyxus International, Inc.
Pyxus International
Inc. (NYSE:PYX) is a global agricultural company with 145 years'
experience delivering value-added products and services to
businesses, customers and consumers. Driven by a united purpose—to
transform people's lives, so that together we can grow a better
world—Pyxus International, its subsidiaries and affiliates, are
trusted providers of responsibly sourced, independently verified,
sustainable and traceable agricultural and consumer-driven products
and ingredients. For more information, visit www.pyxus.com.
About Purilum
Purilum, LLC is a manufacturer of
high-quality, consistent and science based e-liquid products. The
company was founded on the principles of using the highest
quality ingredients and the latest technological advancements to
develop and deliver premium e-liquids for a consistent and reliable
consumer experience while successfully operating in a highly
regulated environment.
Purilum offers bottle, cartomizer and pod/cartridge filling and
assembly services in its state-of-the-art facility in Greenville, North Carolina. The company's
experienced flavorists create each flavor from the molecular level,
and each final product is produced with quality and consistency.
Purilum is a joint venture, owned equally by Pyxus International
Inc. (NYSE: PYX) subsidiary, AOSP Investments, LLC, and IOTO
USA. For more information, visit
www.purilum.com.
About Turning Point Brands, Inc.
Louisville, Kentucky-based Turning Point
Brands, Inc. (NYSE: TPB) is a leading U.S. provider of Other
Tobacco Products and adult consumer alternatives. TPB, through its
focus brands, generates solid cash flow which it uses to finance
acquisitions, increase brand support and strengthen its capital
structure. TPB does not sell cigarettes. More information about the
company is available at its corporate website,
www.turningpointbrands.com.
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SOURCE Pyxus International, Inc.