03/09/2023

Industry News

Headlines from Altria

Altria Announces Definitive Agreement to Acquire NJOY Holdings, Inc. 

• Altria to gain full global ownership of NJOY’s e-vapor product portfolio, including NJOY ACE, currently the only pod-based e-vapor product with market authorizations from the FDA.
  
  
• The transaction is an important milestone on Altria’s journey toward Moving Beyond Smoking™

“We believe we can responsibly accelerate U.S. adult smoker and competitive adult vaper adoption of NJOY ACE in ways that NJOY could not as a standalone company,” said Billy Gifford, Altria’s Chief Executive Officer. “We believe the strengths of our commercial resources can benefit adult tobacco consumers and expand competition. We are also excited to welcome NJOY's talented employees to Altria at closing.”

Read more HERE.

Altria Exchanges Minority Stake in JUUL Labs for Heated Tobacco Intellectual Property Rights

Altria Group, Inc. announced that the company exchanged its entire minority economic investment in JUUL Labs, Inc. for a non-exclusive, irrevocable global license to certain of JUUL’s heated tobacco intellectual property.

“We believe exchanging our JUUL ownership for intellectual property rights is the appropriate path forward for our business,” said Billy Gifford, Altria’s Chief Executive Officer. “JUUL faces significant regulatory and legal challenges and uncertainties, many of which could exist for many years. We are continuing to explore all options for how we can best compete in the e-vapor category.”

Read more HERE.