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☆ Australia to ban recreational vaping in e-cigarette crackdown
▼ + stars: | 2023-05-02 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, May 2 (Reuters) - Australia on Tuesday proposed to tighten e-cigarette laws, including introducing new controls on import and packaging to stamp out vaping especially among kids, in the biggest crackdown on the tobacco industry in more than a decade. But Butler will say that vaping has become a recreational product now, mostly sold to teenagers and young people. "This is a product targeted at our kids, sold alongside lollies and chocolate bars," Butler will say. Tobacco firms were quick to switch to e-cigarettes that offer different flavours and created designs targeting a new generation of users. ($1 = 1.5088 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Tucker Carlson’s Private Messages Were a Major Factor in His Ouster
▼ + stars: | 2023-04-27 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Juul’s Fall From $38 Billion Startup to Near-Bankruptcy: What Went Wrong Juul sparked a vaping craze when it launched, making it one of the most valuable startups in 2018. Five years later, its value has gone up in smoke. WSJ explains Juul’s collapse and what’s next for the e-cigarette company. Illustration: Nayon Cho

☆ Why Starship’s Explosion Is Part of SpaceX’s Process
▼ + stars: | 2023-04-26 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ Bed Bath & Beyond’s Bankruptcy, Explained
▼ + stars: | 2023-04-23 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Companies Altria Group Inc FollowApril 17 (Reuters) - E-cigarette company Juul Labs Inc and its former largest investor, Marlboro maker Altria Group Inc (MO.N), on Monday settled claims by the state of Minnesota that they fueled teen vaping addiction. The settlement, whose terms are not yet public, was announced by Minnesota Attorney General Keith Ellison and by Juul as a trial in the case was nearing its end. Juul has now settled vaping-related claims with 48 U.S. states and territories. Reporting By Brendan Pierson in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

☆ Juul to Pay $462 Million to Settle Underage Vaping Lawsuits With Six States and Washington, D.C.
▼ + stars: | 2023-04-12 | by ( Jennifer Maloney | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/juul-to-pay-462-million-to-settle-underage-vaping-lawsuits-with-six-states-and-washington-d-c-fe3167fc

The deal, which also included Colorado, Illinois, Massachusetts and New Mexico, means that San Francisco-based Juul has now settled with 45 states for more than $1 billion. The various states had accused Juul of falsely marketing its e-cigarettes as less addictive than cigarettes and targeted minors with glamorous advertising campaigns. It previously reached a $439 million settlement with 34 states and territories, as well as settlements with several individual states. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018. The CDC also has said using nicotine in adolescence may raise the risk for future addiction to other drugs.

☆ Juul settlement: E-cigarette maker to pay $462 million in several states for marketing nicotine for youth vaping
▼ + stars: | 2023-04-12 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Juul Labs Inc. will pay $462 million for its role in the youth vaping surge. The settlement includes restrictions on Juul's marketing and distribution of vaping products. Like some other settlements reached by Juul, this latest includes restrictions on the marketing and distribution of the company's vaping products. For example, it is barred from any direct or indirect marketing that targets youth, which includes anyone under age 35. The spokesperson added that underage use of Juul products has declined by 95% since 2019 based on the National Youth Tobacco Survey.

☆ Juul to pay $462 million to six states in its largest settlement ever
▼ + stars: | 2023-04-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Juul Labs, the e-cigarette maker, is paying $462 million to six US states and DC in the largest multi-state settlement yet for the troubled company that has been accused of contributing to the rise of vaping among youth. Based on responses to the 2022 National Youth Tobacco Survey, 14.1% of high school students and 3.3% of middle school students reported using e-cigarettes within the previous 30 days. California is getting $175.8 million, Illinois is getting $67.6 million, Massachusetts is getting $41.7 million, Colorado is getting $31.7 million, New Mexico is getting $17 million and District of Columbia is getting $15 million. West Virginia said on Monday that Juul is paying $7.9 million for similar accusations of marketing toward youth. Last summer, the FDA ordered Juul products to be removed from the US market.

☆ Juul to pay $462 million to settle youth vaping claims from six states, D.C.
▼ + stars: | 2023-04-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Juul will pay $462 million to settle claims by six states and Washington D.C. that the vaping company marketed its addictive e-cigarettes to underage teens, five Democratic attorneys general announced Wednesday. The states that reached the settlement with Juul are New York, California, Massachusetts, New Mexico, Illinois and Colorado. New York will get $112.7 million over an eight-year period, which will support underage vaping abatement programs across the state. The FDA also ordered Juul to stop selling its vaping products last June. It added that youth use of tobacco products in any form is unsafe.

☆ Britain to encourage smokers to swap cigarettes for vapes
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 11 (Reuters) - Up to one million smokers will be encouraged to swap cigarettes for "vapes", with pregnant women offered financial incentives to make the change in what will be a world first, the British government said on Tuesday. Under the scheme, almost one in five smokers will be given a vape - an e-cigarette - starter kit along with support to help quit smoking, the Department of Health (DoH) said. "We will offer a million smokers new help to quit. We will be funding a new national ‘swap to stop’ scheme – the first of its kind in the world." Health service figures show 9% of 11 to 15-year-olds in Britain had used e-cigarettes in 2021, up from 6% three years before.

March 27 (Reuters) - E-cigarette company Juul Labs Inc and its former largest investor, Marlboro maker Altria Group Inc (MO.N), will face their first U.S. trial this week over claims that they created a public nuisance by marketing addictive e-cigarettes to minors. It says Juul sold its e-cigarettes in sweet flavors and promoted them on social media to appeal to underage consumers. Juul and Altria have faced thousands of similar lawsuits around the country. The state also says Altria helped Juul market its products, including by providing it access to its sales force and including Juul advertisements in Marlboro products. Altria this month announced that it had given up its investment in Juul in exchange for some of Juul's intellectual property.

☆ 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.

☆ Want to Reduce Binge Drinking Among Teens? Try Taxing E-Cigarettes
▼ + stars: | 2023-03-10 | by ( Lisa Ward | ) www.wsj.com time to read: 1 min

Vaping and binge drinking may go together for many teens, so a tax that reduces vaping could also reduce drinking. Taxes on electronic cigarettes are designed to deter vaping. For teens, though, such taxes might have some unintended additional health benefits. A recent study found that states and municipalities with electronic-cigarette taxes had not only lower rates of vaping by teenagers, but less binge drinking and fewer drunken-driving fatalities for teens as well.

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.

☆ Marlboro maker Altria agrees to buy e-cigarette startup NJOY for nearly $2.8 billion
▼ + stars: | 2023-03-06 | by ( Stefan Sykes | ) www.cnbc.com time to read: +1 min

In a bid to strengthen its portfolio of smoke-free products, Altria Group said Monday it would buy e-cigarette startup NJOY for $2.75 billion. Altria, which makes Marlboro cigarettes, will have full global ownership of NJOY's e-vapor product portfolio, including NJOY ACE, the only pod-based e-vapor product with market authorizations from the FDA. The announcement comes soon after Altria exited its stake in electronic cigarette maker Juul Labs. Altria's Juul stake was recently valued at $250 million, according to Reuters. The Altria-NJOY deal includes $500 million in cash payments contingent on certain regulatory outcomes with NJOY products.

☆ 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.

☆ 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.

Feb 27 - The U.S. Supreme Court on Monday declined to hear a challenge to Los Angeles County's ban on sales of flavored tobacco products brought by R.J. Reynolds Tobacco Company, which had argued that only the federal government - not state or local governments - has the legal authority to regulate tobacco products. The Supreme Court in December allowed a California statewide ban on flavored tobacco products, also challenged by R.J. Reynolds, to go into effect. California became the second state to ban all flavored tobacco product sales, after Massachusetts in 2019. Flavored tobacco products, especially e-cigarettes, have come under scrutiny in recent years as critics have said they appeal to youth. Circuit Court of Appeals last year upheld the Los Angeles ban on a 2-1 vote.

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.

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