WARNING: THIS PRODUCT CONTAINS NICOTINE. NICOTINE IS AN ADDICTIVE CHEMICAL
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altria and other tobacco stocks rose more than 2% February 1,2021.

Altria and other tobacco stocks rose more than 2%, FDA postpones mandatory reduction of cigarette nicotine content


Zhitong Finance APP learned that the US Food and Drug Administration (FDA) has shelved plans to force tobacco companies to significantly reduce the nicotine content in cigarettes.


The FDA updates the list of regulations they plan to develop within the next year twice a year. According to data, the latest updated list does not include a regulation to reduce the nicotine content in cigarettes. The plan was announced by former FDA Commissioner Scott Gottlieb in July 2017.


FDA spokesperson Michael Felberbaum said that although the plan is not on the list, it does not mean that the FDA will permanently shelve its plan to reduce the nicotine content in cigarettes. He said the FDA is evaluating recommendations to limit the nicotine content in cigarettes.


Gottlieb announced a plan to limit the nicotine content in cigarettes in July 2017, requiring tobacco companies to minimize the nicotine content in cigarettes or not addictive plans. If the plan is implemented, the nicotine content in cigarettes will be reduced by up to 80%.


Some analysts have said that if the regulations are officially passed, the US tobacco industry will lose approximately $165 billion in profits. It is expected that the market value of Altria (MO.US) will drop by 37%, while the market value of British American Tobacco (BTI.US) and Imperial Tobacco will drop by 32% and 15% respectively.


Stimulated by the news, as of Wednesday’s close, Altria Group Inc. (NYSE:MO) (MO.US) shares rose more than 3%, British American Tobacco (NYSE:BTI) (BTI.US) shares rose more than 2%, Philip Morris International (NYSE:PM) (PM.US) once rose more than 2% and then closed flat.

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