Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

ALTRIA GROUP, INC.

(MO)
  Report
Delayed Nyse  -  04:03 2022-12-01 pm EST
47.01 USD   +0.92%
11/14Altria Group, Inc. : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
11/11There's a party in the USA
MS
11/11North American Morning Briefing: Fed Hopes, China -2-
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Juul sues FDA for documents said to justify e-cigarette ban

09/20/2022 | 04:48pm EST
FILE PHOTO: New ĹCandy' e-cigs catch fire after U.S. regulators stamp out Juul's flavors

(Reuters) - Juul Labs has sued the U.S. Food and Drug Administration over the agency's refusal to disclose documents supporting its order banning the company, which has been blamed for fueling a teenage vaping crisis, from selling e-cigarettes on the U.S. market.

In a complaint filed on Tuesday with a federal court in Washington, D.C., Juul accused the FDA of invoking the "widely abused" deliberative process privilege to improperly withhold scientific materials that are "central" to understanding the basis for the June 23 sales ban.

Juul said the materials would show whether the FDA conducted a legally required balancing of the public health benefits and risks of its products, including claims they help smokers quit cigarettes, and whether the agency's reasoning was scientifically sound.

"The public deserves a complete picture of the scientific facts behind one of the agency's most controversial and closely scrutinized decisions in recent years," Juul said.

An FDA spokeswoman declined to comment, saying the agency does not discuss pending litigation.

Juul accused the FDA of violating the federal Freedom of Information Act by withholding a majority of the "scientific disciplinary reviews" underlying the sales ban.

It said it filed an administrative appeal through the agency, but the FDA missed a Sept. 13 deadline to resolve it.

A federal appeals court temporarily stayed the sales ban on June 24.

The FDA then decided on July 5 to let Juul keep selling its products for the time being, saying "scientific issues" unique to the company warranted further review.

On Sept. 6, Juul agreed to pay $438.5 million to settle claims by 34 U.S. states and territories over its marketing and sales practices, including that it improperly courted teenage buyers.

Marlboro cigarette maker Altria Group Inc paid $12.8 billion in 2018 for a 35% stake in Juul. Altria valued that stake at $450 million as of June 30.

The case is Juul Labs Inc v Food & Drug Administration, U.S. District Court, District of Columbia, No. 22-02853.

(Reporting by Jonathan Stempel in New York; Editing by Richard Chang)

By Jonathan Stempel


ę Reuters 2022
All news about ALTRIA GROUP, INC.
11/14Altria Group, Inc. : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
11/11There's a party in the USA
MS
11/11North American Morning Briefing: Fed Hopes, China -2-
DJ
11/11Analyst recommendations: Intel, Roku, GSK...
MS
11/10Altria Group Shares Move Lower Following UBS Downgrade
MT
11/10UBS Downgrades Altria Group to Sell From Neutral, Adjusts Price Target to $38 From $43
MT
10/28Altria Reports 2022 Third-Quarter and nine-Months Results, Narrows 2022 Full-Year Earni..
AQ
10/28Altria Announces Election of Jacinto Hernandez to Altria's Board of Directors and Retir..
AQ
10/27Altria Subsidiary Forms Joint Venture With JT Group to Sell Heated Tobacco Products
MT
10/27Sector Update: Consumer Stocks Gain Premarket Thursday
MT
More news
Analyst Recommendations on ALTRIA GROUP, INC.
More recommendations
Financials (USD)
Sales 2022 20 792 M - -
Net income 2022 5 594 M - -
Net Debt 2022 24 733 M - -
P/E ratio 2022 14,8x
Yield 2022 7,89%
Capitalization 83 479 M 83 479 M -
EV / Sales 2022 5,20x
EV / Sales 2023 5,12x
Nbr of Employees 6 000
Free-Float 63,8%
Chart ALTRIA GROUP, INC.
Duration : Period :
Altria Group, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ALTRIA GROUP, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 46,58 $
Average target price 48,94 $
Spread / Average Target 5,06%
EPS Revisions
Managers and Directors
William F. Gifford Chief Executive Officer & Director
Salvatore Mancuso Chief Financial Officer & Executive Vice President
Kathryn B. McQuade Chairman
Jody L. Begley Chief Operating Officer & Executive Vice President
Charles N. Whitaker SVP, Chief Human Resources & Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
ALTRIA GROUP, INC.-1.71%83 479
ITC LIMITED55.93%51 810
JAPAN TOBACCO, INC.21.23%35 859
KT&G CORPORATION26.46%9 103
PT HANJAYA MANDALA SAMPOERNA TBK0.00%7 157
RLX TECHNOLOGY INC.-41.03%3 560