Tobacco Stocks Drop as FDA Issues Plan to Curb Tobacco-Related Deaths

US health officials said Friday they are considering new standards that would require tobacco companies to reduce nicotine in cigarettes to nonaddictive levels, as part of a sweeping review of industry regulations.

(Gottlieb) "We need to envision a world where cigarettes lose their addictive potential through reduced nicotine levels".

Shares of tobacco stocks plummeted after the announcement was made.

"Nicotine itself is not responsible for the cancer, the lung disease and heart disease that kill hundreds of thousands of Americans each year", he said.

The FDA gained oversight of tobacco products in 2009 through the Family Smoking Prevention and Tobacco Control Act.

There are obstacles to the plan, however, including figuring out to deal with the people now addicted to nicotine and finding the best ways to prevent people from smoking far more cigarettes in order to get the psychoactive effects of nicotine that they crave.

More news: Toyota promises long-range solid-state batteries in EVs by early 2020s

The agency says the new plan isn't meant to simply snuff out a multi-billion dollar industry, but rather to encourage companies to develop innovative products that prove to be less risky than cigarettes.

Nicotine isn't the only cause of the diseases that come from smoking, but it is the chemical that hooks users because of the effects that it has on the brain. Health care and lost productivity costs come in at almost $300 billion annually, according to the FDA.

E-cigarettes and vaping devices that were on the market in August 2016 won't be subject to review until 2021 or 2022, depending on the type of product.

Vector Group, maker of Pyramid and Liggett Select, was down five percent, while in London British American Tobacco had fallen close to seven percent.

"This comprehensive plan and sweeping approach to tobacco and nicotine allows the FDA to apply the powerful tools given by Congress to achieve the most significant public health impact", said Mitch Zeller, J.D., director of the FDA's Center for Tobacco Products. Nearly 90% of adult smokers started smoking before the age of 18 and 2,500 youths have their first cigarette every day, the agency said. Shares of Gillia tumbled 7% while British American Tobacco (BTI - Free Report) stock plunged 9%.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Governor Rauner gives Detention to Lawmakers
At the time, Rauner's Education Secretary said he supported 90% of the changes in the bill. Rauner says he plans to take out what he calls a "poison pill".

Tensions Rise in Jerusalem After Israel Installs Metal Detectors at Mosque
Conflicts over the holy site, revered by Muslims and Jews, have repeatedly triggered Israeli-Palestinian confrontations. Palestinian religious authority considered the move a declaration of sovereignty by Israel over the Muslim holy site.

Humans have produced 8.3 billion tonnes of plastic, researchers say
But the study also said that recycling and incineration are on the rise globally. "I don't think that's going to be the picture". But the same properties that make plastics so useful in everyday life - such as durability - also make them hard to break down.

Oklahoma City Thunder, Carmelo Anthony 'circling each other'
Adams and Kanter aren't just a dynamic duo off the court - they provide a complete package together near the rim for the Thunder . With star players like Paul George and Russell Westbrook , a trade for Carmelo Anthony is not impossible for the Thunder .

Motorola Moto Z2 Force Edition launched with shatterproof display
In the single-core test, the alleged Moto X4 got 824 points while in the multi-core testing the device has acquired 3886 points. The Moto Z2 Force will go on sale in Mexico, Brazil, Europe, Middle East, and Africa from "later this summer", the company says.

Poland's senate approves controversial court reform
The poll was conducted on Tuesday and Wednesday, amid large street protests against the party's plan for the judiciary. At the same time, many thousands of Poles are protesting against their power-hungry, authoritarian regime in Warsaw.

Strike by oil tanker owners causes fuel shortage in Pakistan
He said the supply of petrol and diesel to all filling stations in the country will start today at 4pm. Meanwhile, the OGRA also accused OMC of playing behind the scene and supporting the oil tanker strike.

Ford Motor Company (F) Upgraded to Strong-Buy at Vetr Inc
The Firm operates in four divisions: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink .

Heavy clashes again erupt outside Temple Mount
Thousands flocked to the Old City each day this week for street prayers, kneeling on mats spread on cobblestone and asphalt. Israeli police said the weapons were smuggled into the holy site which was then used as the launchpad for the attack.

'Kashmir is India and India is Kashmir', says Rahul Gandhi
How many people will get killed? Trump himself has said he wants to settle the Kashmir problem. "It is being said that Kashmir should be discussed with China, discussed with Pakistan ".

Legendary Pokémon Finally Coming to 'Pokémon GO': Watch The Trailer
To announce the news, Niantic released a new live-action trailer to give players a hint about how Legendary Pokemon Raids will work.

Samsung Galaxy Note 8 launches August 23
The sensors are said to be a 12MP wide-angle lens along with a 13MP telephoto lens at the back. #Exynos will get things done. Samsung Electronics has sent out invitations for August 23 unpacking of next phablet succeeding the ill-fated Galaxy Note7.

Danilo explains why he rejected Chelsea for Manchester City
The club website reported Danilo as saying, "I am very, very happy to be joining Manchester City ". Real Madrid's Gareth Bale was never a realistic target for Manchester United .

Anne Hathaway In Talks To Star In Barbie
The outlet stresses that Hathaway's casting is far from a done deal, however, and no official offer has yet been put on the table. Hathaway's commitment to Barbie will depend on her schedule, as she just signed on to topline the sci-fi movie O2 for IM Global.

Teen held over deadly vehicle crash that was streamed live on Instagram
California Highway Patrol is examining video as part of its investigation into the crash, The Associated Press reported. Relatives confirmed to KFSN-TV that Obdulia Sanchez was livestreaming on Instagram before, during and after the crash.


More News

News
More News