Altria buys NJOY for $2.75B in new bet on e-cigarette market

Big tobacco firms are investing heavily in traditional cigarette alternatives as smoking rates decline globally, but the e-cigarette category has faced tough regulatory scrutiny over under-age usage and health concerns.

In comparison, Juul is still seeking approval of its products and is under the threat that the health regulator could“ is an authorized product versus a pending product . There are no litigation challenges. The youth usage is at minimum and so that brings a level of certainty,” said Altria Chief Executive Officer Billy Gifford.

Altria on Friday exchanged its investment in Juul, last valued at $250 million, for some of the vaping company’s heated tobacco intellectual property.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Food fight: FDA is redefining ‘healthy’ and food industry is pushing backLess saturated fat, less sodium, less added sugar -- manufacturers say almost no packaged foods would qualify under the agency’s new rules Good Good. should really tell you something about packaged foods…
Source: washingtonpost - 🏆 95. / 72 Read more »