The Food and Drug Administration has authorized Juul's original vaporizer and flavored cartridges to remain on the U.S. market.

Shares of tobacco companies Philip Morris International and Altria Group declined after the Food and Drug Administration authorized Juul Labs to keep its e-cigarettes on the U.S. market. Philip Morris edged down 2.6% to $178.52, while Altria was lower by 2.3% to $57.52 in early afternoon trading Thursday.

WASHINGTON (AP) — The Food and Drug Administration is allowing vaping brand Juul to keep its e-cigarettes on the market.

New York Attorney General Letitia James announced the $462 million settlement with JUUL for its role in the youth vaping epidemic. Now those funds will be distributed to local governments.