- The European Court of Justice has issued a preliminary ruling against Philip Morris (NYSE:PM) and British American Tobacco (NYSEMKT:BTI), stating that the EU Tobacco Products Directive of 2014 is valid.
- The law, which comes into force in 2016, requires pictorial health warnings across 65% of tobacco packets, a ban on menthol cigarettes by 2020, and preserves the right of member states to introduce "plain packaging" rules.
- The news is a heavy blow to Big Tobacco, although the court still has to deliver a final ruling.
Big blow to Big Tobacco
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