Altria shares plunge after FDA releases road map to curb tobacco-related deaths
Publishing timestamp: 2017-07-28 20:35:59
Summary
The FDA announced plans to lower nicotine levels in cigarettes to non-addictive levels, causing tobacco-related stocks to fall. The goal is to encourage the development of less harmful tobacco products. The plan also includes considering the role of menthol and other flavors in tobacco products. While some see this as a negative for cigarette manufacturers, it could be an opportunity for reduced-risk products in the long term.
Sentiment: MIXED
Tickers: PM, BATS-GB, VGR, IMB-GB, MO,
Keywords: vector group ltd, markets, fda, philip morris international inc, business news, altria group inc, british american tobacco plc, imperial brands plc, retail industry,