SOMETHING IN THE AIR TONIGHT –
June 22, 2022 – The FDA declined to comment on the report, while Altria and Juul did not respond to requests for comment from Reuters.
“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,” Cowen analyst Vivien Azer said. The looming verdict comes nearly two years after Juul had applied for approval to keep selling e-cigarettes in the country.
The FDA’s review of the applications was based on whether the e-cigarettes are effective in getting smokers to quit and, if so, whether the benefits to smokers outweigh the health damage to new users, including teenagers.
In October, the FDA had allowed Juul rival British American Tobacco Plc (BATS.L) to market its Vuse Solo e-cigarettes and tobacco-flavored pods, the first-ever vapor product to get clearance from the health regulator.
