Rev7 degradable chewing gum maker Revolymer is set to exploit Canada’s lucrative nicotine gum market following two distribution deals with pharmacies, its CEO said.
The UK chewing gum manufacturer has closed distribution deals with two subsidiaries of the McKesson Group - Associated Retail Pharmacies (ARP) and Family Health Care Pharmacies (FHCP). Both pharmacy chains will offer Revolymer’s nicotine gum Rev7 Generation 2 as a ‘preferred’ brand.
Canada is the first country to retail the new product within the global nicotine gum market that is pegged at more than $1.2bn, according to Datamonitor.
Roger Pettman, CEO of Revolymer, said that the two distribution deals are “important” and will give the firm “an opportunity to exploit the $40m Canadian nicotine gum market”.
It is also “an important step in realising significant value from our unique polymer technology platforms”, Pettman said.
“Achieving regulatory approval and then distribution across Canada so quickly is another key milestone for Revolymer,” he said.
The firm will face competition with Johnson & Johnson’s Nicorette gum that accounts for around 45% of the global market.
The nicotine gum is part of a wider portfolio of ‘environmentally friendly’ gums that use a synthetic polymer chewing gum base that degrades faster than conventional bases.
Revolymer claims its nicotine gum has improved texture, flavour and chew compared to its competitors.
It said the use of its polymer technology improves the rate and amount of nicotine released while also masking the bitter taste through molecular encapsulation.
“Moreover, an additional benefit to ex-smokers is that the product will whiten teeth as it is chewed,” the firm added.
The nicotine gum is available in 2 and 4mg doses in spearmint, peppermint and fresh fruit flavours.
The shift into Canada with its nicotine gum marks part of Revolymer’s wider five year growth plan that it will fund with £25m that it raised after it put its entire shares on the London stock exchange in July this year.
The firm has successfully launched its degradable gum Rev7 in the US and is now dedicated to expanding into Europe, the UK in particular, following its EU novel foods approval in January 2012.