Trump administration shelves plan to sharply cut nicotine in cigarettes
-- U.S. regulators are hitting the brakes on plans to force tobacco companies to drastically reduce addictive nicotine in cigarettes, retreating on an ambitious public-health initiative that comes amid increasing worry about nicotine use among young people.
Representatives for the Food and Drug Administration and the Department of Health and Human Services didn’t immediately respond to requests for comment. Shares of Altria Group Inc., the maker of Marlboro cigarettes, rose 3.5% at 11:49 a.m. in New York. Philip Morris International Inc. rose 1.6%. It also shocked Wall Street, sending stocks of tobacco giants including Altria plunging as investors reconsidered whether people would bother smoking a cigarette without the addictive chemical. The move was paired with a decision -- later reversed -- to give e-cigarette makers extra time to keep their products on the market without regulation.
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