Altria exchanges stake in Juul for heated-tobacco intellectual property

Altria exchanges stake in Juul for heated-tobacco intellectual property

Business
March 4, 2023 by secret
111
[ad_1] Tobacco giant Altria MO, +0.15% on Friday said it had exchanged its minority stake in embattled e-cigarette maker Juul for “a non-exclusive, irrevocable global license to certain of JUUL’s heated tobacco intellectual property.” Altria Chief Executive Billy Gifford said in a statement that “We believe exchanging our Juul ownership for intellectual property rights is