Information about Juul

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Altria Group (formerly Philip Morris Companies ), acquired a 35% stake in Juul Labs for $12. 8 billion on December 20, 2018. Altria is the parent company of Marlboro, who holds more combustable cigarette market share than the next 7 brands combined. According to a Wall Street Journal report, Altria's investment in Juul was pushed by the fact that many smokers were switching to the electronic variant and Altria's own e-cigarette product, MarkTen, was not selling well. Critics have cited the acquisition as proof that the vaping industry and "big tobacco", who for years denied the link between smoking and health complications, are increasingly one and the same. Shortly after the deal, which also allowed Juul to be sold in more places, then FDA Commissioner Scott Gottlieb called out the combined company for "deviating from the representation that they already made to the agency about steps they are taking to restrict their products in a way that will decrease access to kids,"