Stocks Drop as Menthol Cigarettes Could Soon Be Banned
The United States could soon see a ban on menthol in traditional cigarettes according to the U.S. Food and Drug Administration. Companies like Marlboro which is owned by Altria Group Inc. report that Menthol Cigarettes make up around 20% of their total sales. With this news the stock market reacted with a drop around 3.6 percent to $61.14 on Monday for Marlboro with others feeling the effects.
Lisa David who is the president and chief executive of Public Health Solutions told the NY Times “Menthol makes it seem less harsh, and also makes the body absorb more nicotine.” The obvious goal is to make people stop smoking because this ban according to this will make starting smoking harder and easier to quit. Ever year the United States reports an average of just under 500,000 deaths from smoking.
The FDA recently has also made moves to restrict flavored e-cigarettes in Vape Shops. The e-cigarette restriction is their attempt to fix the "epidemic" levels of teen e-cigarette use says the FDA.