- South Korea's National Health Insurance Service sues the local units of Philip Morris (PM) and British American Tobacco (BTI) and KT&G Corp. for ~$52M to offset the cost of treating smoking-related diseases.
- The agency calculated the damages based on payments data by state insurers for patients with three types of cancer related to smoking.
- This is the first lawsuit against tobacco firms from a country in the Western Pacific.
- PM and BTI account for one third of South Korea's $9.3B tobacco market.
- South Korea's Supreme Court recently ruled in favor of KT&G on a separate case brought by individuals.
From other sites
at Nasdaq.com (Mar 23, 2015)
at 4-traders.com (Mar 23, 2015)
at CNBC.com (Mar 11, 2015)
at Zacks.com (Mar 4, 2015)
at CNBC.com (Jan 15, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs