HALISTER: Tobacco Stocks Slide as FDA Seeks to Cut Cigarette Nicotine

Tobacco Stocks Slide as FDA Seeks to Cut Cigarette Nicotine

(Bloomberg) -- U.S. tobacco stocks fall, led by BTI -8%, MO -5%, SWMA -1.9%, PM -2%; FDA in a statement said it plans to purse lowering nicotine in cigarettes to non-addictive levels.
  • European tobacco stocks also fall: BATS LN - 8%, IMB LN -4%, SWMA SS -2%
  • Statement says the anticipated new enforcement policies will not affect any current requirements for cigarettes and smokeless tobacco, only the newly-regulated tobacco products such as cigars and e-cigarettes
  • Agency intends to extend timelines to submit tobacco product review applications for newly-regulated tobacco products that were on the market as of Aug. 8, 2016
Statement: Link To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Courtney Dentch

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MO US (Altria Group Inc)
BATS LN (British American Tobacco PLC)
IMB LN (Imperial Brands PLC)
PM US (Philip Morris International Inc)
STG DC (Scandinavian Tobacco Group A/S)

Topics
First Word DC - Foreign Policy

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