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☆ Juul Labs raises $1.3 bln in funding
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Juul brand vaping pens are displayed for sale at a Juul shop in Jakarta, Indonesia, December 30, 2019. REUTERS/Ajeng Dinar Ulfiana Acquire Licensing RightsNov 13 (Reuters) - Juul Labs said on Monday it has raised about $1.3 billion in funding, months after the e-cigarette maker revealed plans to lay off about 250 people in a bid to reduce its operating costs. Juul disclosed in a regulatory filing it had raised $1.27 billion in funding from a total offering amount of $1.6 billion. The company did not immediately respond to a request for comment on how it plans to use these funds. Marlboro maker Altria (MO.N) also exited its stake in Juul earlier this year, days before announcing a purchase of e-cigarette startup Njoy Holdings for about $2.8 billion.

Persons: Juul, Bhanvi, Shounak Dasgupta Organizations: REUTERS, Juul Labs, Juul, District of Columbia, Holdings, Thomson Locations: Jakarta, Indonesia, New York, California, Marlboro, Altria, Bengaluru

☆ Altria seeks US import ban on Juul e-vapor products
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The move escalates a dispute between the two e-cigarette makers after Juul filed a similar patent infringement case against NJOY at the ITC in June. NJOY said in its filings that Juul products infringe two of its patents, and that it intends to obtain a ban on products including its currently marketed Juul device and Juul pods. NJOY also sued Juul in Delaware on Tuesday for infringing the same patents, seeking an unspecified amount of damages. Juul filed its own patent lawsuits against NJOY and Altria at the ITC and in Arizona federal court in June, seeking money damages and a ban on imports of NJOY's Ace vapor device. Altria won more than $95 million from cigarette rival R.J. Reynolds in North Carolina federal court last year after a jury found RJR infringed other Altria e-cigarette patents.

Persons: Elijah Nouvelage, NJOY, Juul, Altria, Reynolds, RJR, Philip Morris International's, Granth, Chris Kirkham, Blake Brittain, Krishna Chandra Eluri, Marguerita Choy Organizations: REUTERS, Altria, Juul Labs, U.S . International Trade Commission, ITC, NJOY Holdings, NJOY, RJR, Thomson Locations: Atlanta , Georgia, U.S, Marlboro, Juul, Delaware, Arizona, North Carolina, Bengaluru, Los Angeles, Washington

☆ Marlboro Maker Plots New Path to Smoke-Free Future After Losing Billions on Juul
▼ + stars: | 2023-03-24 | by ( Jennifer Maloney | ) www.wsj.com time to read: 1 min

Altria CEO Billy Gifford said the company is looking to develop non-nicotine products for former smokers and others. America’s biggest cigarette company has a new plan to shift its business toward less-harmful products, after a string of failures. This time, the Marlboro maker says, its plan will work. Altria Group Inc. earlier this month divested itself of e-cigarette maker Juul Labs Inc., recording a loss of at least $12.5 billion. Altria now has a new lineup of e-cigarettes, heated-tobacco devices and oral nicotine pouches in the works, including the planned acquisition of vaping pioneer NJOY Holdings Inc.

☆ Altria Plots Life After Juul
▼ + stars: | 2023-03-24 | by ( Jennifer Maloney | ) www.wsj.com time to read: 1 min

Altria CEO Billy Gifford said the company is looking to develop non-nicotine products for former smokers and others. America’s biggest cigarette company has a new plan to shift its business toward less-harmful products, after a string of failures. This time, the Marlboro maker says, its plan will work. Altria Group Inc . earlier this month divested itself of e-cigarette maker Juul Labs Inc., recording a loss of at least $12.5 billion. Altria now has a new lineup of e-cigarettes, heated-tobacco devices and oral nicotine pouches in the works, including the planned acquisition of vaping pioneer NJOY Holdings Inc.

March 10 (Reuters) - The Chicago mayor's office said on Friday a $23.8 million settlement has been reached with Juul Labs Inc over claims that the e-cigarette maker deceptively marketed its products and for selling vaping products to underage users. In the settlement, Chicago said Juul has denied and continues to deny any wrongdoing and liability in connection with the design, manufacture, production, advertisement, marketing, distribution, sale, use, and performance of its products. According to the settlement, the company has agreed to pay the city $2.8 million within 30 days of the execution of the agreement. Chicago would receive an additional $21 million payment later this year under the current schedule and may potentially receive up to $750,000 additional, court-awarded payments, the Chicago mayor's office said. Altria Group Inc (MO.N), which had a stake in Juul valued at $12.8 billion in 2018, on Monday exchanged its investment in Juul, last valued at $250 million, for some of the vaping company's heated tobacco intellectual property.

☆ Altria to revive vaping push with $2.8 bln NJOY bid after Juul fiasco
▼ + stars: | 2023-03-06 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Altria is betting that NJOY will prove to be an easier way to tap the market since six of the company's products have received full approval from the U.S. Food and Drug Administration. Altria on Friday exchanged its investment in Juul, last valued at $250 million, for some of the vaping company's heated tobacco intellectual property. "We are no longer limited by the terms of those agreements to pursue other strategic opportunities and partnerships," Juul said. Altria's stake in Juul, valued at $12.8 billion in 2018, had raised antitrust concerns and the Federal Trade Commission filed a complaint in April 2020. The NJOY deal will include an additional $500 million in cash payments based on regulatory approvals of the company's other products.

☆ Marlboro Maker Ditches Juul and Buys NJOY
▼ + stars: | 2023-03-06 | by ( Jennifer Maloney | Robb M. Stewart | ) www.wsj.com time to read: 1 min

Marlboro maker Altria Group Inc. agreed to buy vaping pioneer NJOY Holdings Inc. for at least $2.75 billion, after closing the chapter on its disastrous investment in e-cigarette maker Juul Labs Inc. The deal for NJOY, one of the few e-cigarette makers whose products have clearance from federal regulators, includes an additional $500 million if the Food and Drug Administration authorizes additional NJOY products. Those include the menthol-flavored refill pods it currently sells and a new version of its device that uses a Bluetooth connection to authenticate the user before unlocking.

☆ Altria to Buy Vaping Startup NJOY for at Least $2.75 Billion
▼ + stars: | 2023-03-06 | by ( Robb M. Stewart | ) www.wsj.com time to read: 1 min

NJOY has received clearance from the FDA to sell its tobacco-flavored e-cigarettes. Altria Group Inc. said it struck a deal to buy startup NJOY Holdings Inc. for at least $2.75 billion, the latest attempt by the Marlboro maker to shift into e-cigarettes as traditional smoking has declined. The deal comes after Altria last week said it would exchange its entire minority investment in embattled e-cigarette maker Juul Labs Inc. for a nonexclusive global license to certain of Juul’s heated tobacco intellectual property.

☆ Altria to buy e-cigarette startup NJOY for $2.8 billion and exit Juul investment
▼ + stars: | 2023-03-06 | by ( ) www.cnbc.com time to read: 1 min

Altria Group said on Monday it would buy e-cigarette startup NJOY Holdings for about $2.75 billion in cash, in fresh bets by the Marlboro maker on the fast-growing market after losing billions through its investment in Juul. The NJOY deal will include an additional $500 million in cash payments subject to regulatory outcomes related to certain NJOY products, Altria said. NJOY is one of the handful of vaping companies whose products have clearance from federal regulators. The company makes NJOY Ace Pods and disposable e-cigarettes under the NJOY Daily brand. NJOY Ace is currently the only pod-based e-vapor product with market authorizations from the U.S. Food and Drug Administration.

☆ Altria to buy e-cigarette startup NJOY for $2.8 bln after Juul exit
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

March 6 (Reuters) - Altria Group Inc (MO.N) said on Monday it would buy e-cigarette startup NJOY Holdings Inc for about $2.75 billion in cash, in fresh bets by the Marlboro maker on the fast-growing market after losing billions through its investment in Juul. The value of Altria's investment in Juul slid to $250 million as of December last year from $12.8 billion it invested in 2018. The NJOY deal will include an additional $500 million in cash payments subject to regulatory outcomes related to some NJOY products, Altria said. NJOY is one of the handful of vaping companies whose products have clearance from federal regulators. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj Kalluvila and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Altria to light up vaping push with $2.8 bln NJOY bid after Juul fiasco
▼ + stars: | 2023-03-06 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Altria on Friday said it had exchanged its investment in Juul, last valued at $250 million, for some of the once red-hot vaping company's heated tobacco intellectual property. Altria's stake in Juul, valued at $12.8 billion in 2018, had raised antitrust concerns and the Federal Trade Commission filed a complaint in April 2020. NJOY's products include Ace Pods - currently the only pod-based e-vapor product with market authorizations from the FDA - and disposable e-cigarettes under the NJOY Daily brand. The deal will include an additional $500 million in cash payments based on regulatory decisions related to other NJOY products, Altria said. Vapor products was a $7.84 billion market in the United States in 2021, up from $4.6 billion in 2017, according to Euromonitor International, and is projected to rise to $9.46 billion by 2025.

NJOY is one of the few e-cigarette makers whose products have clearance from federal regulators. Marlboro maker Altria Group Inc. is in advanced talks to buy e-cigarette startup NJOY Holdings Inc. for at least $2.75 billion and plans to divest its stake in Juul Labs Inc., according to people familiar with the matter. The deal for NJOY, one of the few e-cigarette makers whose products have clearance from federal regulators, could be announced as soon as this week, the people said, though the talks could still fall apart. The proposed deal includes an additional $500 million earnout if certain regulatory milestones are met, the people said. The Wall Street Journal reported last June that NJOY had hired advisers and was exploring a sale.

☆ Altria in talks to buy vaping startup NJOY for about $2.75 billion - WSJ
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

Feb 27 (Reuters) - Altria Group Inc (MO.N) is in advanced talks to buy e-cigarette startup NJOY Holdings Inc for at least $2.75 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. The Journal further notes that the proposed deal includes an additional $500 million earnout if regulatory milestones are met. The Journal reported in October Juul was preparing to file for Chapter 11 bankruptcy, while searching for an alternative - such as a sale, investment or loan - that could stave off a filing. NJOY and Altria did not immediately respond to Reuters' requests for comment. In July, the WSJ had reported that NJOY has hired bankers for a possible sale of the company, adding that the privately held firm is likely to be valued at up to $5 billion.

Marlboro maker Altria Group Inc. is in advanced talks to buy e-cigarette startup NJOY Holdings Inc. for at least $2.75 billion, according to people familiar with the matter, moving to take over a new vaping brand after its bet on Juul fizzled. The deal for NJOY, one of the few e-cigarette makers whose products have clearance from federal regulators, could be announced as soon as this week, the people said, though the talks could still fall apart. The proposed deal includes an additional $500 million earnout if certain regulatory milestones are met, the people said. The Wall Street Journal reported last June that NJOY had hired advisers and was exploring a sale.

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