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The University of Western Virginia, under the exclusive control of the State, has a permanent endowment of $100,000

1 In your liver, the majority of the nicotine (about 70% to 80%) is metabolized to cotinine, another chemical compound

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Finally, given the specificity of our focus on JUUL market entry within the first year, these findings may not extrapolate to the impact of entry of all ENDS products over time or in other settings, as product characteristics and market conditions could be quite different