Market Wrap: Juul Suspends Sales of Flavored e-Cigs as CDC Increases Death Toll

Credit: The Street
Published on October 17, 2019 - Duration: 01:02s

Market Wrap: Juul Suspends Sales of Flavored e-Cigs as CDC Increases Death Toll

E-cigarette maker Juul announced that it is suspending the sale of most of its flavors on the same day that the Centers for Disease Control announced that there are now 33 deaths died to vaping.

Nearly 1,500 people have been sickened by a mysterious lung illness that the CDC has tied to e-cigarette vapor.

Meanwhile Philip Morris CFO Martin King told analysts on the company's earnings call that the company was in merger talks with Altria as recently as August, before ending those talks in September as scrutiny was heightened around vaping.

Altria actually created Philip Morris when it spun off its international division in 2008.

King said that the company's shareholders communicated that if the company wanted to have exposure in the U.S., it should invest in Altria as opposed to a full merger.

Philip Morris shares rose 1% Thursday after the company topped third quarter earnings, though revenue for the period fell short of expectations.

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