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Reynolds American to Buy Smoking-Cessation Firm Niconovum 

Jump to full article: The Wall Street Journal Interactive Edition, 2009-12-02
Author: DAVID KESMODEL

Intro:

Tobacco giant Reynolds American Inc. agreed to buy Sweden's Niconovum AB for about $44 million, gaining a foothold in the market for smoking-cessation products.

The deal marks the latest move by Reynolds to diversify as the volume of cigarettes sold in the U.S. continues to decline.

Reynolds, based in Winston-Salem, N.C., said it plans to retain the management team at Niconovum, which makes nicotine gum, mouth spray and pouches under the Zonnic brand. Niconovum's products currently are sold only in Sweden and Denmark, and Reynolds would need the Food and Drug Administration's approval to sell them in the U.S.

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