Kaival Brands Commends Recent FDA Regulation Efforts
GRANT-VALKARIA, Fla., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), which are intended for adults 21 and over, today provided an update on the efforts by the U.S. Food and Drug Administration (“FDA”) to address youth-access prevention, illegitimate, illicit products in the marketplace, and an update on recent announcements by the FDA regarding completion of certain Premarket Tobacco Product Applications (“PMTAs”) by December 2023.
- GRANT-VALKARIA, Fla., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), which are intended for adults 21 and over, today provided an update on the efforts by the U.S. Food and Drug Administration (“FDA”) to address youth-access prevention, illegitimate, illicit products in the marketplace, and an update on recent announcements by the FDA regarding completion of certain Premarket Tobacco Product Applications (“PMTAs”) by December 2023.
- Eric Mosser, Chief Executive Officer of Kaival Brands, stated, “We commend the recent enforcement efforts of the FDA to address the problem of illicit and illegal vaping products in the market right now.
- The FDA anticipates action on:
52% of covered PMTAs by March 31;
53% of covered PMTAs by June 30;
55% of covered PMTAs by Sept. 30;
100% of covered PMTAs by Dec. 31. - Both the Company and Bidi Vapor have remained steadfastly committed to compliance and youth-access prevention.