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Pin to quick picksBritish American Tobacco Share News (BATS)

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Lawsuit demands menthol cigarette ban following White House delays

Tue, 02nd Apr 2024 19:40

April 2 (Reuters) - The U.S. government was sued on Tuesday by anti-smoking groups that want a ban on menthol cigarettes and blame the Biden administration for delaying it.

Found naturally in peppermint and similar plants, menthol is used disproportionately by Black smokers, in part because of tobacco companies' marketing efforts and also appeals to younger smokers.

The U.S. Food and Drug Administration in April 2022 had proposed banning menthol. Health officials originally planned to publish a final rule by last August, and after missing that deadline pushed back the target date to last month.

That deadline has now passed, prompting the lawsuit to require the FDA and its parent agency, the Department of Health and Human Services, to implement a ban.

"Because of defendants' inaction, tobacco companies have continued to use menthol cigarettes to target youth, women, and the Black community--all to the detriment of public health," the lawsuit filed in federal court in Oakland, California, said.

Menthol is the only cigarette flavor still allowed under a 2009 law that gave the FDA authority to regulate tobacco.

The lawsuit was filed by the African American Tobacco Control Leadership Council, Action on Smoking and Health, and the National Medical Association.

Neither HHS nor the FDA immediately responded to requests for comment.

The FDA has said that eliminating menthol could prevent 324,000 to 654,000 smoking deaths in the United States over 40 years.

About 10.1 million Americans started smoking because of menthol cigarettes between 1980 and 2018, and 378,000 people died prematurely, according to the Centers for Disease Control and Prevention.

Sales of menthol-flavored cigarettes made up 37% of U.S. cigarette sales in 2021, the highest since data began being kept in 1963.

About 81% of Black adults who smoke cigarettes use menthol varieties, compared with just 34% of white adults, the CDC said.

Altria and British American Tobacco each generate more than 20% of revenue from menthol, Morningstar analyst Philip Gorham estimated last month.

In a joint statement, the plaintiffs in Tuesday's lawsuit said a menthol ban would benefit the Black community, and accused the Biden administration of having "fallen for disinformation and fear-mongering" by the tobacco industry.

The White House is hoping for a strong turnout among Black voters to bolster Democratic incumbent Joe Biden's reelection prospects against Republican former President Donald Trump.

The plaintiffs also sued the FDA for a menthol ban in June 2020. They dismissed that case in June 2022, five weeks after the FDA proposed a ban.

The case is African American Tobacco Control Leadership Council et al v. U.S. Department of Health and Human Services et al, U.S. District Court, Northern District of California, No. 24-01992.

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16 Feb 2024 12:04

IN BRIEF: British American Tobacco prices USD1.70 billion bond offer

British American Tobacco PLC - London-based maker of cigarettes and vapes - Prices an offering of USD1.70 billion guaranteed bonds. These issues consist of USD850.0 million 5.834% notes due 2031, and USD850.0 million 6.000% notes due 2034. Says its subsidiary BAT Capital Corp is issuing these notes. Says notes will be fully and unconditionally guaranteed by the group. The issuance of the notes is expected to close on Tuesday next week, subject to customary closing conditions. BAT intends to use the net proceeds of the offering of the notes for general corporate purposes, including the potential repayment of existing indebtedness.

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14 Feb 2024 09:17

Italian watchdog fines BAT and Amazon combined €7m

(Sharecast News) - British American Tobacco and Amazon have been fined a total of €7m by Italy's competition watchdog over "misleading" advertising.

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12 Feb 2024 09:41

LONDON BROKER RATINGS: Deutsche Bank starts Deliveroo at 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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8 Feb 2024 17:00

LONDON MARKET CLOSE: Softer earnings weigh on underperforming FTSE 100

(Alliance News) - London's FTSE 100 ended lower on Thursday, with mixed corporate updates keeping a lid on enthusiasm, while in New York the S&P 500 has the 5,000 point mark in touching distance.

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8 Feb 2024 14:42

London close: Stocks slip as US jobless claims fall

(Sharecast News) - London markets experienced a downturn in trading on Thursday, with stocks relinquishing earlier gains as investors processed a decrease in jobless claims in the United States.

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8 Feb 2024 12:08

LONDON MARKET MIDDAY: DS Smith surges on takeover approach from Mondi

(Alliance News) - Stock prices in London were mixed at midday Thursday, as markets struggled to find direction amid a mixed wave of corporate updates and earnings.

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8 Feb 2024 09:02

TOP NEWS: British American Tobacco shares up despite swing to loss

(Alliance News) - British American Tobacco PLC on Thursday said it was committed to dividend growth as it reported a swing to a loss amid a decline in revenue.

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8 Feb 2024 08:59

LONDON MARKET OPEN: Unilever up on buyback; BAT ups dividend

(Alliance News) - THE FTSE 100 in London opened slightly higher on Thursday, with earnings from British American Tobacco and Unilever boosting the index.

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8 Feb 2024 08:01

British American Tobacco swings to loss on US writedown

(Sharecast News) - British American Tobacco said on Thursday that it swung to a full-year loss mainly due to an impairment charge related to its US business.

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8 Feb 2024 07:50

LONDON BRIEFING: Unilever sets new buyback; Astra profit surges

(Alliance News) - Stocks in London are called to open slightly higher on Thursday, as investors eye a busy day of earnings.

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6 Feb 2024 08:21

IN BRIEF: British American Tobacco makes Holly Koeppel senior director

British American Tobacco PLC - London-based maker of cigarettes and vapes - Promotes Holly Keller Koeppel to senior independent director, replacing Sue Farr, who will leave the board at the annual general meeting on April 24. Farr and Dimitri Panayotopoulos will step down as directors, having served for nine years. Koeppel has been a BAT non-executive director since July 2017, joining as part of BAT's acquisition of all of tobacco peer Reynolds American Inc. She had worked at Citi Infrastucture Investors.

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2 Feb 2024 16:59

London close: Stocks mixed as US payrolls come in red-hot

(Sharecast News) - London's stock markets closed with mixed results on Friday, as investors were confronted by an unexpectedly strong US labour market as revealed in the latest US non-farm payrolls report.

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2 Feb 2024 13:41

BAT, Philip Morris settle patent infringement litigations over heated tobacco, vapour products

(Sharecast News) - British American Tobacco said on Friday that it has reached a global settlement with Philip Morris International to resolve all ongoing patent infringement litigations between the two related to its heated tobacco and vapour products.

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2 Feb 2024 12:47

TOP NEWS: Philip Morris and British American Tobacco halt patent fight

(Alliance News) - Philip Morris International Inc and British American Tobacco PLC on Friday said that they had reached a global settlement following months of litigation over non-smoke tobacco products.

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1 Feb 2024 15:52

UK earnings, trading statements calendar - next 7 days

Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
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Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
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Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
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Virgin Money UK PLCTrading Statement
Wednesday 7 February 
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Phoenix Spree Deutschland LtdTrading Statement
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Smurfit Kappa Group PLCFull Year Results
UK Commercial Property REIT LtdTrading Statement
Thursday 8 February 
Anglo American PLCTrading Statement
AstraZeneca PLCFull Year Results
British American Tobacco PLCFull Year Results
Compass Group PLCTrading Statement
Redrow PLCHalf Year Results
SSE PLCTrading Statement
Unilever PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
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