Imperial Brands yesterday published a report giving – for the first time – an overview of the progress it is making in respect of next generation products (NGPs) and outlining its views on a number of key related issues.
The 17-page report looks at Imperial’s NGPs timeline, the public health opportunity presented by NGPs, the risk spectrum, products, including snus and heated-tobacco devices, vapor research and development, and regulation.
In an introduction, Imperial’s chief executive, Alison Cooper (pictured), said Nerudia, Imperial’s innovation arm, was “focused on creating a compelling pipeline of innovative products and its entrepreneurial spirit is proving to be a winning addition to our own vibrant culture”.
“In assembling the right components for success, we have deliberately favoured the vapor (EVP) opportunity as it’s by far the largest NGP category,” she said.
“With the technology and scientific insights available to us today, we have never been better placed to be able to transition smokers from cigarettes to something better.
Meanwhile, Matthew Phillips, Imperial’s chief development officer, is quoted in the report as saying that tobacco will be Imperial’s core business for many years to come, generating the funds to invest in NGP.
“But over time that balance will shift and you will see NGP making a material and sustainable contribution to our financial delivery, as we accelerate the transition of smokers to something better,” he said.