What's Next for Vapor and Harm Reduction Products?
Bryan Haynes, a partner in Troutman Pepper's Tobacco Practice Group, was quoted in the September 29, 2022 Convenience Store News article, " What's Next for Vapor and Harm Reduction Products?"
This operates as an unfortunate disincentive to innovate. Complying with FDA premarket authorization requirements entails substantial time and expense. But if the FDA does not enforce those requirements against companies that choose to ignore them, it disincentivizes law-abiding companies from investing resources in the process.
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It is reasonable to assume that there will be some consolidation.
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Don't panic. Although the FDA has proposed — and apparently intends to propose — product standards that would have a significant impact on the industry, the rulemaking process takes a long time. It is reasonable to assume that it would be at least three years before any of these standards takes effect.