3rd Apr 2019 15:45
LONDON (Alliance News) - Shares in London-listed tobacco companies fell on Wednesday after the US Food & Drug Administration said it is conducting an investigation into reports over several years of e-cigarette users experiencing seizures.
Imperial Brands was the worst performer in the FTSE 100 down 3.5% at 2,537.00 pence and British American Tobacco was second worst, down 2.2% at 3,112.00 pence.
Tobacco companies are trying to shift away from combustible cigarettes by embracing electronic devices as an alternative to smoking.
Imperial Brands produces its blu vaping device as part of its Next Generation Product range, while BAT's flagship tobacco heating product is Glo.
The FDA said it has received 35 reports of seizures possibly related to e-cigarette use between 2010 and early this year. Seizures are a risk associated with ingestion of nicotine liquids used in e-cigarettes.
"We want to be clear that we don't yet know if there's a direct relationship between the use of e-cigarettes and a risk of seizure. We can't yet say for certain that e-cigarettes are causing these seizures. We're sharing this early information with the public because as a public health agency, it's our job to communicate about potential safety concerns associated with the products we regulate that are under scientific investigation by the agency," said FDA Commissioner Scott Gottlieb.
Related Shares:
British American TobaccoImperial Brands