Juul has hired former FDA employees and is recruiting researchers as the e-cigarette giant prepares for an important regulatory deadline.
Those moves appear to have been costly. Juul’s market share fell to about 57% in the four weeks that ended Jan. 26, down from about 70% a year earlier, Bloomberg Intelligence analyst Ken Shea said Tuesday in a research note, citing new IRI data. Companies that get FDA authorization first will have a significant advantage in a market that Shea estimates generated approximately $6 billion in sales last year.Some e-cigarette makers have already submitted applications.
In an email to employees announcing Murillo’s hire, Crosthwaite said his primary focus would be taking Juul through the FDA approval process, according to a person familiar with the matter.Since joining Juul, Murillo has created a new regulatory team, bringing in employees from its clinical and scientific affairs, government affairs, legal and communications groups focused on preparing and filing the FDA application, the person said.in December 2018 for a 35% stake.
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