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
Virginia appeals to the Fourth Circuit over partial block on flavored vape ban enforcement
Virginia appeals to the Fourth Circuit over partial block on flavored vape ban enforcement
Virginia has asked the Fourth Circuit to overturn a district court order that partially blocked enforcement of the commonwealth’s flavored vape ban. In a notice, the state told U.S. District Judge David J. Novak it seeks to upend his December ruling that Virginia’s Chapter 23.2 statute is preempted by the Food, Drug and Cosmetic Act and the Family Smoking Prevention and Tobacco Control Act.
Jan.12 by 2FIRSTS.ai
China Tobacco Annual Meeting Flags “New Growth Drivers” for 2026: Cigarette Innovation, Domestic Cigars, Overseas Business and Multi-Purpose Use
China Tobacco Annual Meeting Flags “New Growth Drivers” for 2026: Cigarette Innovation, Domestic Cigars, Overseas Business and Multi-Purpose Use
China’s tobacco authorities used their annual industry meeting in Beijing to outline new growth drivers for 2026, highlighting cigarette innovation, domestic cigars, overseas business expansion and multi-purpose tobacco applications.
Jan.20
PMI AI White Paper Warns of “Cognitive Atrophy” and Attention Erosion, Calls for Focus on Human Cognition’s Evolution
PMI AI White Paper Warns of “Cognitive Atrophy” and Attention Erosion, Calls for Focus on Human Cognition’s Evolution
Philip Morris International (PMI) has released a white paper calling for cross-sector dialogue on how AI may affect human cognitive abilities. The paper flags risks including “cognitive atrophy” and attention erosion, and warns of a widening cognitive divide and rising pressures on information verification and trust.
Jan.21 by 2FIRSTS.ai
Russia’s Perm Region Finalises Law Banning E-Cigarettes from March Next Year
Russia’s Perm Region Finalises Law Banning E-Cigarettes from March Next Year
The Governor of Russia’s Perm Region has confirmed that the newly adopted regional law banning vapes will take effect on March 1, 2026, despite lobbying from manufacturers and pressure from the federal level. The law prohibits the sale of all vaping products within the region, with penalties for violators, including fines for kiosks operating in residential areas.
Nov.26 by 2FIRSTS.ai
BAT Expects Around 2% Revenue and Operating Profit Growth in FY25
BAT Expects Around 2% Revenue and Operating Profit Growth in FY25
British American Tobacco (BAT) reaffirmed its 2026 guidance while announcing a £1.3 billion (approximately USD 1.65 billion) share buyback for FY26. The company expects around 2% growth in revenue and adjusted profit from operations for FY25. Accelerating New Category growth, driven by Velo Plus and improving U.S. Vuse performance, is expected to deliver double-digit H2 revenue growth.
Dec.09 by 2FIRSTS.ai
Nepal: 80 cartons of e-cigarettes seized, valued at US$150,000
Nepal: 80 cartons of e-cigarettes seized, valued at US$150,000
In Nepal’s Mustang district, authorities seized 80 cartons of e-cigarettes valued at NPR 22,459,320 (approximately US$150,000) in Lomanthang Rural Municipality-4, Nechung, and detained a 32-year-old man, Pema Lama. The account says the e-cigarettes were allegedly brought illegally from China three to four days earlier and loaded near the Korala Nepal–China border point before being intercepted.
Jan.13 by 2FIRSTS.ai
Related Topics
HEADLINE News Company
Related Read
Virginia appeals to the Fourth Circuit over partial block on flavored vape ban enforcement
Virginia appeals to the Fourth Circuit over partial block on flavored vape ban enforcement
2FIRSTS.ai
China Tobacco Annual Meeting Flags “New Growth Drivers” for 2026: Cigarette Innovation, Domestic Cigars, Overseas Business and Multi-Purpose Use
China Tobacco Annual Meeting Flags “New Growth Drivers” for 2026: Cigarette Innovation, Domestic Cigars, Overseas Business and Multi-Purpose Use
PMI AI White Paper Warns of “Cognitive Atrophy” and Attention Erosion, Calls for Focus on Human Cognition’s Evolution
PMI AI White Paper Warns of “Cognitive Atrophy” and Attention Erosion, Calls for Focus on Human Cognition’s Evolution
2FIRSTS.ai
Russia’s Perm Region Finalises Law Banning E-Cigarettes from March Next Year
Russia’s Perm Region Finalises Law Banning E-Cigarettes from March Next Year
2FIRSTS.ai
BAT Expects Around 2% Revenue and Operating Profit Growth in FY25
BAT Expects Around 2% Revenue and Operating Profit Growth in FY25
2FIRSTS.ai
Nepal: 80 cartons of e-cigarettes seized, valued at US$150,000
Nepal: 80 cartons of e-cigarettes seized, valued at US$150,000
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 Shenzhen 2FIRSTS Technology Co.,Ltd. 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. For Chinese mainland users, please visit https://cn.2firsts.com
English
English
中文