- Height Securities checks in on the tobacco sector ahead of the FDA Center for Tobacco Products meeting. The meeting takes place amid a Trump administration focus on reduced regulations when seen as appropriate.
- "We think initial FDA actions on allowable nicotine levels in combustible cigarettes and other tobacco products will likely come at some point during 1Q2018 after yesterday's report by the National Academies provided Members of Congress concerned with the public health risks of tobacco products additional ammunition to force the FDA to release its long-awaited advanced notice of proposed rulemaking on nicotine," writes analyst Stefanie Miller.
- Miller sees Philip Morris International (NYSE:PM) as an "early winner" from the long FDA reset due to its IQOS product.
- The FDA's scientific advisory committee could issue a recommendation on IQOS this week. The FDA decision is expected to be announced in May.
- Related stocks: MO, BTI, TPB, VGR, OTCQB:GLLA, OTCQX:IMBBY.
- Now read: Philip Morris: Curious Case Of The Currency Adjustment
Original article