Awarded contract to supply nicotine gum:
Revolymer plc (“Revolymer”) (AIM: REVO), the British polymer technology company, is delighted to announce that it has been awarded a contract to supply its nicotine gum to a Canadian retailer. The deal is for an initial period of 2 years and is expected to generate revenue at levels that are material to Revolymer’s business during this period. Revolymer has begun manufacture, and the product is scheduled to be on the shelves in Q4 2013. Under the terms of the deal Revolymer will supply a number of stock-keeping units of nicotine gum in different flavours and formats, including a new ‘handy pack’.
“We are delighted to have been awarded this contract. This deal provides commercial validation to the application of our technologies to the nicotine gum market, and we look forward to both procuring reorders from the client and building on this achievement in other territories in due course,” said Roger Pettman Chief Executive Officer of Revolymer.
According to Euromonitor, the global nicotine replacement therapy (“NRT”) smoking cessation aids market totalled US$2.3 billion in 2011, of which nicotine chewing gum is the largest segment contributing 54 per cent. or US$1.3 billion. Other smaller categories include inhalers, lozenges and patches. Between 2006 and 2011 the global NRT nicotine gum market grew at a CAGR of 3.8 per cent. Europe (including Eastern Europe) accounted for 40 per cent. and North America 43 per cent of this market in 2011. About a fifth of the nicotine gum market worldwide is accounted for by private or white label products, with the balance from global brands such as Nicorette and Nicotinell.
