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
Glas, the FDA, and the Future of Flavored ENDS
Glas, the FDA, and the Future of Flavored ENDS
BAT faces London shareholder lawsuit over alleged disclosure failures tied to North Korea business
BAT faces London shareholder lawsuit over alleged disclosure failures tied to North Korea business
British American Tobacco is facing a shareholder lawsuit in London alleging it failed to properly disclose to markets information about breaches of U.S. sanctions linked to its North Korea-related business. BAT agreed in 2023 to pay more than $635 million to U.S. authorities after a subsidiary admitted conspiring to violate U.S. sanctions by selling tobacco products to North Korea and committing bank fraud from 2007 to 2017.
Mar.05 by 2FIRSTS.ai
Iowa House says governor’s tobacco and vape tax hikes are in a “holding pattern”
Iowa House says governor’s tobacco and vape tax hikes are in a “holding pattern”
Radio Iowa reported that House Speaker Pat Grassley said House Republicans are wrestling with Gov. Kim Reynolds’ proposal to raise Iowa’s tax on tobacco products and impose a new 15% sales tax on vaping products. Grassley said the idea is in a “holding pattern,” noting it does not align neatly with recent Republican moves to cut income taxes, and that House Republicans already removed the proposed tax increase from the governor’s MAHA bill.
Feb.27 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
Spanish Congress Health Committee Approves Motion to Restrict Vape and Nicotine Pouch Sales to Authorized Channels
Spanish Congress Health Committee Approves Motion to Restrict Vape and Nicotine Pouch Sales to Authorized Channels
Spain’s Congress Health Committee has approved a non-binding motion calling for the sale of vapes, nicotine pouches, and related products to be limited to regulated authorized channels, excluding internet sales and non-specialized stores. The motion was introduced by the Socialist Parliamentary Group and approved after a negotiated text with the Popular Party.
Apr.15 by 2FIRSTS.ai
China Tobacco International (HK) Announces FY2025 Results: Revenue Reaches HK$14.58 Billion, Up 11.5% Year-on-Year
China Tobacco International (HK) Announces FY2025 Results: Revenue Reaches HK$14.58 Billion, Up 11.5% Year-on-Year
China Tobacco International (HK) Company Limited announced its audited results for the year ended December 31, 2025. Revenue was HK$14.58 billion, profit before taxation was HK$1.28 billion, and profit attributable to owners of the Company was HK$0.98 billion, with basic and diluted EPS of HK$1.42. The Board proposed a final dividend of HK$0.33 per share; together with an interim dividend of HK$0.19 per share, the full-year dividend totaled HK$0.52 per share.
Mar.06 by 2FIRSTS.ai
Philippine Authorities Seize Illegal Vape Products Worth About PHP 3.6 Million
Philippine Authorities Seize Illegal Vape Products Worth About PHP 3.6 Million
Philippine officials said government agencies seized illegal vape products worth about PHP 3.6 million during a joint enforcement operation in Metro Manila and neighboring provinces on March 12.
Mar.16 by 2FIRSTS.ai
Related Topics
HEADLINE News Company
Related Read
BAT faces London shareholder lawsuit over alleged disclosure failures tied to North Korea business
BAT faces London shareholder lawsuit over alleged disclosure failures tied to North Korea business
2FIRSTS.ai
Iowa House says governor’s tobacco and vape tax hikes are in a “holding pattern”
Iowa House says governor’s tobacco and vape tax hikes are in a “holding pattern”
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
Spanish Congress Health Committee Approves Motion to Restrict Vape and Nicotine Pouch Sales to Authorized Channels
Spanish Congress Health Committee Approves Motion to Restrict Vape and Nicotine Pouch Sales to Authorized Channels
2FIRSTS.ai
China Tobacco International (HK) Announces FY2025 Results: Revenue Reaches HK$14.58 Billion, Up 11.5% Year-on-Year
China Tobacco International (HK) Announces FY2025 Results: Revenue Reaches HK$14.58 Billion, Up 11.5% Year-on-Year
2FIRSTS.ai
Philippine Authorities Seize Illegal Vape Products Worth About PHP 3.6 Million
Philippine Authorities Seize Illegal Vape Products Worth About PHP 3.6 Million
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