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US tobacco giant Altria is to stop selling its MarkTen and Green Smoke e-cig brands, just days after speculation emerged that it was close to buying a substantial stake in Juul Labs.
The maker of Marlboro is also investing heavily in Cronos Group, a major Canadian cannabis producer.
Explaining the decision to ditch MarkTen and Green Smoke as well as its Verve chewable oral tobacco discs, Altria cited “the current and expected financial performance of these products, coupled with regulatory restrictions that burden Altria’s ability to quickly improve these products”.
The unexpected announcement came little more than a month after Altria had committed to removing MarkTen pod products and most flavours from the market, in response to general pressure on the US e-cig industry from the Food and Drug Administration (FDA) over the issue of youth vaping....