01:53 PM EDT, 10/16/2024 (MT Newswires) -- (Updates with Reynolds American's response in the third paragraph.)

British American Tobacco ( BTI ) plans to introduce a version of its Velo nicotine pouches containing synthetic nicotine in the US, Reuters reported Wednesday, citing Reynolds American President David Waterfield.

Unlike the company's traditional products, which use nicotine from tobacco, the synthetic version would use nicotine manufactured in a lab, the report said.

"Velo Plus will be manufactured, along with current Velo products, in the...Reynolds Operations Center in Tobaccoville, North Carolina," a Reynolds American spokesperson told MT Newswires. "Velo Plus nicotine pouches are intended for adult nicotine consumers aged 21 and over." Velo Plus will be in a majority of states, in compliance with their respective regulations, through Reynolds's contracted retail partners.

British American Tobacco ( BTI ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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