Companies and Brands

FDA Raids Headquarters of Major E-Cig Producer

courtesy of the U.S. Food and Drug Administration

The U.S. Food and Drug Administration (FDA) is cracking down on smoking, but not what is traditionally considered smoking. The agency is going after e-cigarette manufacturers, as teen smokers (vapers) have reached epidemic levels.

Last Friday, the FDA conducted a raid on one of the headquarters of top e-cigarette producer, Juul Labs, seizing “thousands of pages of documents.” The agency is targeting Juul to further explore if the company is targeting youths with its marketing.

In September, the agency demanded that Juul and four other competitors construct plans to fight the epidemic of young smokers. If these companies failed to do so, the FDA has threatened to pull some or all of their flavored products from store shelves.

One aspect of the agency’s plan has entailed increased enforcement. The more than 1,300 warning letters and fines to retailers were part of a large-scale, undercover nationwide blitz to crack down on the sale of e-cigarettes to minors at both brick-and-mortar and online retailers, and it was conducted from June through the end of August.

Juul currently owns roughly 75% of the e-cig market. Vaping exploded on the scene a couple years ago, with Juul’s sales jumping 641% between 2016 and 2017, according to the Centers for Disease Control and Prevention (CDC).

According to Time:

Youth use of e-cigarettes increased by 75% between 2017 and 2018, according to early reports of not-yet-published federal data, which would mean about 20% of U.S. high schoolers, or some 3 million teenagers, vape. The FDA does not have data about which brands are used by teenagers, but the agency plans to add a question specifically about Juuling to the 2019 version of the National Youth Tobacco Survey.

The Average American Has No Idea How Much Money You Can Make Today (Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

 

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

1 https://www.fdic.gov/national-rates-and-rate-caps

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.