More

    Juul Ban In USA Causes Altria Stocks By Drop 8%

    - Advertisement -

    Juul received a devastating blow on Thursday when the Food and Drug Administration ordered it to cease selling e-cigarettes in the US.

    Juul’s brand has been cited as the cause of the adolescent vaping epidemic. All of Juul’s products sold in the US, which accounts for the vast majority of the company’s revenues, are impacted by the injunction. Juul’s stylish vape cartridges with sweet-flavored pods contributed to the emergence of alternative tobacco products among adults as well, and they drew strong regulatory and anti-smoking organization investigation out of concern that they might hurt young people more than benefit ex-smokers.

    The FDA Announces Ban On All Juul Products

    The FDA’s action is a part of a larger initiative to rewrite the regulations for tobacco and vapor products and to lessen diseases and fatalities brought on by inhalable containing highly addictive nicotine. To deter people from using the deadliest legal consumer product, the government announced intentions to lower nicotine levels in conventional cigarettes on Tuesday. The FDA said in April that it will work toward a ban on menthol cigarettes.

    The agency’s decision came at the end of a nearly two-year investigation into the information Juul had provided to obtain permission to keep marketing its tobacco- and menthol-flavored products in the US. To apply, the corporation had to demonstrate both the security of its products and their suitability for the preservation of public health. CNN was informed by an FDA spokeswoman that the organization was currently unable to offer any information.

    Shares of Altria fell 8% on Wednesday, and this year, the company has lost 13% of its value. In 2018, the business spent $12.8 billion to acquire a 35 percent ownership in Juul. As worries about the health dangers of vaping grew and US officials pushed for a ban on e-cigarettes, the agreement soon went south. Juul also came under fire for offering vape pods in flavors like mango, crème, and cucumber that were well-liked by teenagers.

    - Advertisement -

    Recent Articles

    Related Stories