Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Search

22nd Century Group Inc Sells GVB Biopharma for $2.25 Million

Business by 2FIRSTS.ai
Nov.29.2023
22nd Century Group Inc Sells GVB Biopharma for $2.25 Million
US cigarette manufacturer, 22nd Century Group Inc, has sold its cannabis subsidiary, GVB Biopharma, for $2.25 million, exiting the industry after less than 18 months.

According to a report by Journalnow on November 29, American cigarette manufacturer 22nd Century Group Inc has announced the sale of its cannabis subsidiary, GVB Biopharma, for a sum of $2.25 million. This move signifies the company's formal exit from the cannabis industry, which proved to be a significant financial burden in less than a year and a half.

 

According to regulatory documents released on Monday, the purchaser of GVB is Specialty Acquisition Corp, a professional acquisition company based in Nevada.

 

References:
[1] 22nd Century plans to exit cannabis business at steep loss
Also Read:
[1] 22nd Century Group Plans to Publicly Issue Stock and Warrants

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

China Tobacco Regulation Shift：Policy Updates and Market Impact
China Tobacco Regulation Shift：Policy Updates and Market Impact
EVO NXT European Tobacco & NGP Exhibition
EVO NXT European Tobacco & NGP Exhibition
Austria to Tighten Sales Rules for Nicotine Pouches and E-Liquids From April 1
Austria to Tighten Sales Rules for Nicotine Pouches and E-Liquids From April 1
Austria will introduce new sales rules for nicotine products from April 1, 2026. Under a reform of the tobacco law passed in December 2025, nicotine pouches will in future be sold only through tobacco shops, while e-liquids will be sold only through tobacco shops and licensed specialist stores. Other points of sale will no longer be permitted to sell these products.
Mar.30 by 2FIRSTS.ai
Exclusive｜Logistics Operators Warn of Possible New U.S. Border Crackdown on Illicit Vapes
Exclusive｜Logistics Operators Warn of Possible New U.S. Border Crackdown on Illicit Vapes
Recent inspections and cargo disruption have led some logistics operators in the China-U.S. vape trade to see early signs of another U.S. border crackdown on illicit e-cigarettes. With late April to early May viewed as a key risk window, the market is watching closely. The bigger question is not only whether enforcement will tighten, but whether it can be sustained.
Special Report
Apr.09
Italy Formally Submits Detailed Opinion to EU Obstructing Ireland's Disposable Vape Ban
Italy Formally Submits Detailed Opinion to EU Obstructing Ireland's Disposable Vape Ban
Italy's Ministry of Enterprises and Made in Italy has submitted a detailed opinion against Ireland's proposed "Public Health (Single Use Vapes) Bill 2025." Italy argued that the comprehensive ban on disposable vapes lacks scientific evidence, violates the EU principle of the free movement of goods, and conflicts with the existing Tobacco Products Directive.
Apr.10 by 2FIRSTS.ai
Ireland’s 2026 amendment bill to regulate nicotine pouches and tighten rules on vaping products
Ireland’s 2026 amendment bill to regulate nicotine pouches and tighten rules on vaping products
The Irish government has approved the publication of the Public Health (Tobacco Products and Nicotine Inhaling Products) (Amendment) Bill 2026. The bill would ban the sale of nicotine consumption products such as nicotine pouches to those under 18 and further regulate nicotine vaping products.
Mar.05 by 2FIRSTS.ai
Philippine Tobacco Control Coalition Backs Raising Legal Age for Vape and Tobacco Products to 25
Philippine Tobacco Control Coalition Backs Raising Legal Age for Vape and Tobacco Products to 25
A coalition of health and child rights advocates in the Philippines said it supports Health Secretary Teodoro Herbosa’s call to raise the legal age restriction for vape and tobacco products from 18 to 25. The group said scientific evidence shows that the brain of a young person continues to develop until the mid-20s, and that nicotine exposure during that period can cause lasting impairment in impulse control, learning, and mood regulation.
Mar.11 by 2FIRSTS.ai
Russian Vape Industry Proposes State Monopoly on E-Liquid Production as Alternative to Ban
Russian Vape Industry Proposes State Monopoly on E-Liquid Production as Alternative to Ban
Russian business groups are trying to persuade the authorities to abandon plans to ban the sale of e-cigarettes and related liquids at both the federal and regional levels.
Apr.03 by 2FIRSTS.ai
Related Topics
HEADLINE News Company
Related Read
Austria to Tighten Sales Rules for Nicotine Pouches and E-Liquids From April 1
Austria to Tighten Sales Rules for Nicotine Pouches and E-Liquids From April 1
2FIRSTS.ai
Exclusive｜Logistics Operators Warn of Possible New U.S. Border Crackdown on Illicit Vapes
Exclusive｜Logistics Operators Warn of Possible New U.S. Border Crackdown on Illicit Vapes
Italy Formally Submits Detailed Opinion to EU Obstructing Ireland's Disposable Vape Ban
Italy Formally Submits Detailed Opinion to EU Obstructing Ireland's Disposable Vape Ban
2FIRSTS.ai
Ireland’s 2026 amendment bill to regulate nicotine pouches and tighten rules on vaping products
Ireland’s 2026 amendment bill to regulate nicotine pouches and tighten rules on vaping products
2FIRSTS.ai
Philippine Tobacco Control Coalition Backs Raising Legal Age for Vape and Tobacco Products to 25
Philippine Tobacco Control Coalition Backs Raising Legal Age for Vape and Tobacco Products to 25
2FIRSTS.ai
Russian Vape Industry Proposes State Monopoly on E-Liquid Production as Alternative to Ban
Russian Vape Industry Proposes State Monopoly on E-Liquid Production as Alternative to Ban
2FIRSTS.ai
FOLLOW US ON SOCIAL MEDIA
Contact: info@2firsts.com
Stay up to date.
Submit your email to receive weekly newsletter on the most relevant news of the e-cigarette industry.
© 2026 2FIRSTS. All Right Reserved.
2FIRSTS is only accessible to industry practitioners, researchers, media and other professionals. Access by minors is prohibited.
This website provides services to users outside the Chinese mainland.
English
English
中文