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The Food and Drug Administration is preparing to ban e-cigarette maker Juul from the US market, according to reports yesterday. The move follows a nearly two-year review of the company’s data surrounding the use of its vaping products, with an emphasis on e-cigarette use by underage consumers.

The company once controlled more than 75% of the US e-cigarette market, but came under fire on multiple fronts, including allegations it deliberately marketed its products to teenagers. The company denied targeting children and halted sales of all flavors except tobacco and menthol in 2019. Regulators previously cleared the way for two Juul competitors—Reynolds American Inc. and NJOY Holdings Inc.—to continue sales. 

Juul reported $1.3B in sales last year, almost entirely in the US market. Altria (maker of Marlboro cigarettes), which bought a 35% stake in Juul in 2018 valued at $12.8B, saw its stock drop 9%.