Vaping has been touted in recent years as a ‘healthier’ alternative to smoking traditional cigarettes, and is often used as a method to give up or cut back on smoking. The products heat nicotine, flavourings and other chemicals into a water vapour that is inhaled, allowing the user to satisfy their nicotine craving without inhaling the burnt by-products of a cigarette. Nicotine itself is not particularly healthy – it increases adrenaline and raises blood pressure, increasing the likelihood that the user could have a heart attack – but vaping has still been perceived as a better method of delivery than a normal cigarette.
However, the perception of vaping as a preferable alternative to smoking is now changing amid concerns over health risks and younger users. Some countries, US states and/or cities have banned or limited sales of vape-related products. US vaping brand Juul revealed on 25 September that its chief executive was stepping down, replaced by KC Crosthwaite – formerly chief growth officer at tobacco group Altria (US:MO), which took a 35 per cent stake in Juul for $12.8bn last December. Mr Crosthwaite said: “I have long believed in a future where adult smokers overwhelmingly choose alternative products like JUUL”, but “today that future is at risk due to unacceptable levels of youth usage and eroding public confidence in our industry”. He noted the need to work with regulators, policymakers and stakeholders.
We also learnt on 25 September that Altria and tobacco peer Philip Morris International (US:PM) had ended merger discussions.