Over 13% down on LSE as per 17:00 our time.
TOP NEWS: US REGULATOR'S NICOTINE PLANS SEND TOBACCO STOCKS DIVING
[ 28 Jul 2017 15:53 ]
LONDON (Alliance News) - The US Food & Drug Administration on Friday announced a new "comprehensive plan" for tobacco and nicotine regulation that will "serve as a multi-year roadmap to better protect kids and significantly reduce tobacco-related disease and death".
The FDA said its approach places nicotine, and the issue of addiction, at the centre of its tobacco regulation efforts, with a goal of ensuring it has the proper scientific and regulatory foundation to efficiently and effectively implement the Family Smoking Prevention & Tobacco Control Act in the US.
The FDA added that it plans to begin a public dialogue about lowering nicotine levels in combustible cigarettes to non-addictive levels through "achievable product standards".
Shares in British American Tobacco PLC were trading down 10% at 4,770.00 pence on Friday following the announcement, while shares in Imperial Brands PLC were down 6.5% at 3,214.00p.
The agency intends to issue an Advance Notice of Proposed Rulemaking to seek input on the potential public health benefits and any possible adverse effects of lowering nicotine in cigarettes.
"The FDA is committed to encouraging innovations that have the potential to make a notable public health difference and inform policies and efforts that will best protect kids and help smokers quit cigarettes," it said in a statement.
By Karolina Kaminska;
[email protected]; @KarolinaAllNews
