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Big blow to Big Tobacco

Dec. 23, 2015 5:18 AM ETPhilip Morris International Inc. (PM) StockBTI, MO, PM, LOBy: Yoel Minkoff, SA News Editor94 Comments
  • 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.

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