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News analysis

Altria cuts its losses on Juul, accepting a 98% collapse in its $12.8bn investment

Written by || 6th March 2023 || News analysis | Major brands | North America United States

Altria has confirmed that it has swapped its 35% stake in Juul Labs for heated tobacco intellectual property rights, ending an investment which plummeted in value from $12.8bn to only $250m in just over four years. So far, Juul has never launched a heat-not-burn (HnB) product, despite years of talks on working to develop such a device.

Altria CEO Billy Gifford  said: “We believe exchanging our Juul ownership for intellectual property rights is the appropriate path forward for our business.”

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“Altria cuts its losses on Juul, accepting a 98% collapse in its $12.8bn investment”








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    Antonia Di Lorenzo

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