The U.S. Food and Drug Administration is prepping to take Juul down.
According to an earlier report by the Wall Street Journal, the FDA plans to eliminate all of Juul’s e-cigarettes sold on U.S. shelves.
And since the word got out, shares in Altria, a tobacco giant, fell nearly 8.5%, owning a 35% stake in vaping products. Juul has been controversial and has faced scrutiny since the nicotine product has allegedly been marketed toward teens.
American Cancer Society reports, “JUULs typically have a significantly higher amount of nicotine per puff than some other types of e-cigarettes and cigarettes. Because of this, JUUL and JUUL-like products may be more addictive than other types of e-cigarettes. Some kids have become physically dependent on nicotine by using these products.”
An analyst says, “This clearly comes as a surprise to the market … we would expect that Juul would appeal the decision, and remain on the market through that process, which would likely take a year or more.”
The battle to stop selling Juuls came into full effect after the FDA learned the product was increasing and contributing to underage vaping. A huge factor was the company’s decision to sell fruity flavors, appealing to a much younger crowd.
Since the spike in sales due to the fruitiness, Juul stopped selling the flavors. The company attempted to regain the trust of the public and regulators. It looks like that has failed, and FDA has been out for the e-cigarette for a while now.
The FDA’s decision could come as early as Wednesday, which would be based on two-year data presented by the vaping company. Juul has yet to comment.
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