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Outgoing FDA chief: Altria bait-and-switched me with $12.8 billion Juul investment

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Food and Drug Administration (FDA) Commissioner Scott Gottlieb said on Tuesday that tobacco giant Altria went back on its promise to clamp down on vape pods with its $12.8 billion investment in e-cigarette decacorn Juul Labs.

Food and Drug Administration Commissioner Scott Gottlieb said on Tuesday that tobacco giant Altria went back on its promise to clamp down on vape pods with its $12.8 billion investment in e-cigarette decacorn Juul Labs.

‘I assume it’s just a business decision’Gottlieb explained that he had asked the e-cigarette industry for a plan to address the teen vaping epidemic in October last year. Altria then withdrew some of its brands, like MarkTen and Green Smoke. But around the same time, it made the investment in the top performer in the market — Juul.

He added: “I assume it’s just a business decision they made to withdraw a product that didn’t have good market penetration and go on to make an investment in a similar product that did have the market penetration.” “We do see evidence now that adult smokers are transitioning” from traditional tobacco products with the help of e-cigarettes, Gottlieb acknowledged. “But it cannot come at the expense of the youth we’re seeing.”

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