Kevin Burns, CEO of Juul Labs ?– the maker of the bestselling e-cigarette in the U.S. and center of federal regulators’ crackdown into what they’re calling a teen vaping “epidemic” ?– has a message for parents whose children are addicted to his company’s products: “I’m sorry.”
Since launching in 2015, Juul has quickly come to dominate the e-cigarette industry with roughly 40% of the market, becoming such a dominant player that Altria, the top U.S. cigarette company, invested $12.8 billion for a 35% stake in the San Francisco-based start-up.
But the company has a problem: Its vapes are incredibly popular with teenagers.
The Food and Drug Administration has declared teen vaping an “epidemic,” citing federal survey data that showed nearly 21% of high school students vaped last year. Former FDA Commissioner Scott Gottlieb and health care advocates blame the surge in teen vaping on Juul.
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