Report: Reynolds eyes company that helps smokers quit

In this Wednesday, Oct. 21, 2009 photo, Camel cigarettes, a Reynolds American brand, are shown in Philadelphia. Cigarette maker Reynolds American said Thursday, its profit surged 72 percent in the third-quarter as trademark impairment and restructuring charges pulled down last year's results. (AP Photo/Matt Rourke)

WINSTON-SALEM, N.C. (AP) - Reynolds American Inc., maker of Camel cigarettes, is in talks to buy a Swedish company that helps people quit smoking, according to a report by the Wall Street Journal.

The Wall Street Journal is reporting online Monday that the second-largest U.S. tobacco company is eyeing Niconovum AB, which sells such nicotine-replacement products as gum and spray outside the U.S.

David Sweanor, a Canadian law professor and tobacco expert, said he was briefed by people close to the talks and the deal could be worth $44.5 million, according to the report.

Karl Olov Fagerstrom, an expert on smoking cessation and nicotine dependence, formed the company in 2000, according to its Web site.

Sweanor and Niconovum did not immediately return calls seeking comment.

Reynolds American spokesman David Howard declined to comment, calling the report speculation.

Tags: Camel cigarettes, cessation, gum and spray, Niconovum AB, Reynolds American Inc., SDNN, Swedish company

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