GekeVenn: NJOY
NJOY is an e-cigarette company based in Scottsdale, Arizona. The company's early investors included Peter Thiel, who was also a member of President Trump's transition team.
In 2009, NJOY sued the FDA to be regulated as a tobacco product rather than a drug-delivery device.
NJOY's current CEO is Doug Teitelbaum who isn't included on the venn, but who definitely has some cozy connections with people in the federal government. When Teitelbaum received the Isaiah Award for community service in 2000, Senator Charles Schumer and Treasury Secretary Lawrence Summers spoke on his behalf during the ceremony.
The company's most valuable government connection, however, is probably lobbyist Andrew Perraut, who served in the Obama White House. According to his employer's website, “Perraut... supervised FDA and USDA policies relating to food and nutrition, tobacco, biotechnology, veterinary medicine, and agriculture.” (emphasis added)
Shortly after leaving his position overseeing FDA tobacco policy, Perraut went to work lobbying for NJOY. According to the New York Times, White House chief ethics lawyer Richard Painter “said Mr. Perraut’s quick turnabout violated the spirit of President Obama’s ethics pledge, intended to prevent former aides from lobbying the executive branch.”
As a libertarian, I think it is funny to sue the government to be regulated in a different way. I know it was to have less regulation. However, regulation of this particular item/substance has been pretty much OTC and this takes the killer tar out of the equation.
Of course, being Cuban in heritage, coffee is my drug of choice. I'm not sure I'd want a caffeine delivery system. We don't regulate Coke as a drug delivery system. LOL
BTW, I've heard many physicians say the FDA would never approve Aspirin as it has too many side effects.
As for the cronyism, that is still a problem. Of course. However, it is also still sad that businesses get persecuted by other businesses who do engage in the cronyism.
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