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Altria Sees Juul Value Lower Than E-Cig Maker Values Itself

E-Cigarette Maker Juul Will Offer Lower-Strength Nicotine Pods

Photographer: Gabby Jones/Bloomberg

Altria Group Inc. values e-cigarette maker Juul Labs Inc. at about $4.5 billion -- less than half of Juul’s own valuation.

Altria Chief Executive Officer Billy Gifford told analysts on an earnings conference call Friday why the cigarette maker ended up cutting the value of its Juul investment once again.