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.

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