Altria Group Inc MO said its subsidiary, NJOY, has filed a complaint against JUUL Labs, Inc (JUUL) with the U.S. International Trade Commission (ITC).
The complaint asks for a ban on the importation and sale of certain JUUL e-vapor products, including its currently marketed JUUL device and JUULpods.
The complaint also alleges that the JUUL products infringe certain patents owned by NJOY.
"JUUL has infringed upon our patents through the sale of its imported products, and we ask the ITC to impose appropriate remedies in response to these trade violations," said Murray Garnick, Executive Vice President and General Counsel.
NJOY ACE is currently the only pod-based e-vapor product to receive marketing authorization from the FDA.
Altria completed the $2.75 billion acquisition of NJOY in June.
The company reported second-quarter FY23 revenues net of excise taxes growth of 1.2% to $5.438 billion.
Price Action: MO shares traded higher by 0.27% at $42.88 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
