Marlboro maker Altria agrees to buy e-cigarette startup NJOY for nearly $2.8 billion
Publishing timestamp: 2023-03-06 13:06:40
Summary
Altria Group announced that it would buy e-cigarette startup NJOY for $2.75 billion in order to strengthen its portfolio of smoke-free products. The deal comes after Altria exited its stake in Juul Labs, and includes $500 million in cash payments contingent on certain regulatory outcomes with NJOY products. NJOY has six products that have received full approval for sale from the U.S. Food and Drug Administration.
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Keywords: retail industry, united states, business news, business, altria group inc, health care industry,
Source: https://www.cnbc.com/2023/03/06/marlboro-maker-altria-to-buy-njoy.html