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99% of vaping companies will close their doors within 2 years

rbaker1009rbaker1009 Posts: 1,159Member
edited June 2016 in General Chatter
It will cost each company 1 million dollars per product to obtain approval. That means 1 million for each eliquid flavor, 1 million for each nicotine strength.

Example:

V2 has 12 flavors in .06% 1.2% 1.8% & 2.4% nicotine strengths. It would cost them 48 million dollars just to get their current eLiquid flavors approved through the FDA. The FDA also requires 1 million dollars for each delivery device's approval. Meaning V2's current approval process with their current product line will well exceed 48 million dollars.

The new FDA regulations comprise 499 pages and cover everything related to vaping products and the way they can be legally distributed. This is a devastating blow to all who vape. After researching some of what they have published we will be paying as much as we were for tobacco cigarettes and the cost of approval will cause the handful of companies still standing to reduce their choices by about 80%. The FDA states that their regulations will drive 99% of current vaping companies out of business.

For those that say that what ever issue you may have experienced with V2 are "just going to look elsewhere" I suggest you support V2, your choice to go somewhere else will soon be worse, much worse. I would rather not be buying my vaping supplies at the same cost from the same companies that I bought my tobacco cigarettes but that is exactly where this is going, IN TWO YEARS! I for one hope they survive but I doubt they have that capital to survive the regulations. V2 will either be acquired or fold within the 2 year FDA grace period. If V2 does survive they will likely offer a flavor or two with one or two nicotine strengths.

http://www.msn.com/en-us/money/other/the-fda-just-gave-big-tobacco-a-big-win-on-vaping/ar-BBsHoXA

http://www.msn.com/en-us/money/markets/e-cigarette-black-market-will-thrive-if-fda-stomps-industry-critics-say/ar-BBsGCkx?ocid=spartanntp


Andres, if I have gotten anything wrong here please do correct me and make a public statement to your customer base. I, for one, am quite curious about your plans for survival, or lack thereof.
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Comments

  • Navy20Navy20 Posts: 1,084Member ✭✭
    @rbaker1009,  Until V2 or I become non-existent, whichever comes first, V2 shall be my go to vape outlet.   This company has not only been good for me, they have been good to me . . . I talk V2, I vape V2.  It took a long time to free myself from Big Tobacco . . . I have no intention of ever returning to and supporting Big Tobacco and/or the Pharmaceutical Companies.
  • mrtmrt Posts: 5,021Member ✭✭✭
  • Navy20Navy20 Posts: 1,084Member ✭✭
    Thank You for the link @mrt
  • rbaker1009rbaker1009 Posts: 1,159Member
    J. Andries Verleur, any chance you could deliver your strategy to survive these newly enacted regulations and what effect it will have on your product line? I am assuming the silence is due to your company courting acquisition rather than incur the cost of the FDA application and approval process.


    Since it appears Mr. Verleur no longer peruses his forum perhaps someone could forward this to him.
  • tolds53tolds53 Posts: 16Member
    reread the regs- president trump just signed a reverse and a veto of Obama era reg-vaping will and has gotten a reprieve.time line has changed and so have the rules and cost.-I don't see v2 or a couple of others becoming extinct 
  • tolds53tolds53 Posts: 16Member
    not to be a hard nose but -you need to do all the research and know all the facts before you jump on your soap box and start preaching
  • rbaker1009rbaker1009 Posts: 1,159Member
    edited June 22
    @tolds53 You need to reread my post, you failed to comprehend a couple things.

    First, I am quoting two article's. The article's I'm quoting are included in my post as sources. It seems the articles have been removed from the news sites since my post but they had both confirmed the analysis consensus that 99% of vaping companies would close their doors if that regulation passed as written due to the expense of compliance. 

    Second, my post was written June 2016. Perhaps you aren't aware @tolds53 that date is prior to the current President's administration. Therefore my comments are based on regulations that were proposed at the time I wrote the post, a year ago. 

    You have responded to a year old post not even having the presence of mind to realize it's outdated. At the time I "got on my soapbox and preached" I had done all my research and was fully aware of all the facts. 
  • MSmith447MSmith447 Posts: 243Member
    god i hope this isnt true ;(
  • murph99murph99 Posts: 237Member
    Job well done rbaker1009 
  • Andries_V2cigsAndries_V2cigs Posts: 669Administrator admin
    edited August 27
    rbaker... you are correct that the compliance cost under the current regulatory regime will be onerous and expensive. Of course, the extra 4 years to comply, which was recently announced, pushes this problem a long way into the future.  We are confident that the deeming reg as it stands today will not be the final reg that becomes applicable in 2022 and we will continue to work with the FDA in the hopes that we can help guide the powers that be towards a common sense regulatory regime. The bottom line is that electronic cigarettes cannot practically be regulated the same as combustible cigarettes. Under Dr. Gottlieb's leadership, the FDA seems serious about embracing policies that acknowledge that there is a continuum of risk between combustibles and vapor products. A one size fits all policy towards nicotine delivering products (from combustibles to vapor products) would be grossly irresponsible on the part of any governmental agency, as the last thing anyone wants is to limit access to less harmful options and force people back to traditional smoking.  
  • rbaker1009rbaker1009 Posts: 1,159Member
    Thanks Andries. I am relieved that the regulatory environment has changed favorably from what it was back in June 2016 when I started this thread. When the FDA themselves are stating their regulations will drive 99% of the vaping industry out of business that is scary. I'm thrilled to hear your confidence that current reg's will not survive the extended 2022 deadline.

    The exit of Vivek H. Murthy as Surgeon General is surely good news for vapers and it looks as if Scott Gottlieb will better balance common sense with science at the FDA. 

    I was motivated to lay out the big picture on this forum back then because due to the policy changes you had to make at the time many were disgruntled and loudly professing they were going to buy elsewhere, seemed shortsighted to me. I see the importance of supporting VMR because in addition to being a quality company with a quality product VMR has always been an independent advocate voice in the industry.

    Vapers buying their supplies from VMR are strengthening advocacy and innovation for vapers and the vaping industry, buy from mom and pop or a big tobacco subsidiary and...not so much. In my humble opinion anyway. 
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