Tobacco stocks hit by new FDA effort to cut nicotine levels

Jul. 28, 2017 10:35 AM ETPhilip Morris International Inc. (PM)BTI, MO, IMBBY, VGR, PM, GLLA, TPBBy: Clark Schultz, SA News Editor241 Comments
  • Tobacco stocks fall sharply after the FDA indicates that it will push to cut the level of nicotine in cigarettes.
  • The agency plans to issue guidance describing a new enforcement policy and revised timelines shortly.
  • Philip Morris (PM -6.1%), Altria (MO -10.4%), Vector Group (VGR -3.9%), Turning Point Brands (TPB), Gilla (OTCPK:GLLA -6%), British American Tobacco (BTI -10.3%) and Imperial Brands (OTCQX:IMBBY -2.7%) have all turned lower.
  • FDA press release

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