Philip Morris CEO on plans to ‘phase out cigarettes worldwide’
André Calantzopoulos on Philip Morris
The Biden administration is reportedly considering implementing a measure that would require cigarette companies to adjust the levels of nicotine contained in their products.
The administration is considering whether to move forward with a menthol ban or a reduction in the amount of nicotine to non-addictive or minimally-addictive levels in all cigarettes, The Wall Street Journal reported on Monday citing people familiar with the matter. It could also advance both policies.
Spokespeople for the White House and the FDA did not return FOX Business’ Request for comment.
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The publication noted that the administration has a deadline of April 29 to respond to a citizen’s petition regarding the menthol ban.
Several people within the FDA told The Washington Post that there is strong support for banning both menthol cigarettes and small cigars.
Menthol cigarettes have been considered a gateway for younger individuals to continue smoking into adulthood.
The FDA says that menthol cigarettes may be harder to quit than regular cigarettes. The agency estimates there are more than 19 million smokers of menthol cigarettes, including a large majority of African American smokers.
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Flavored cigarettes were banned in 2009, excluding menthol and tobacco.
The Journal’s report on Monday sent cigarette stocks lower during the trading session.
|PM||PHILIP MORRIS INTERNATIONAL, INC.||91.70||-1.34||-1.44%|
|MO||ALTRIA GROUP, INC.||49.08||-3.23||-6.17%|
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