US May Ban Addictive Levels of Nicotine in Cigarettes

(Bloomberg) -- Shares of Marlboro producer Altria Group Inc. plunged on Monday following a report that the U.S. government is considering a rule that would lower the nicotine content of cigarettes.

The Biden administration is mulling a requirement that nicotine be lowered to levels that aren’t addictive, the Wall Street Journal reported, citing people familiar with the matter. The Food and Drug Administration could also move to ban menthol cigarettes, the Journal reported.

Shares of Altria, which sells the Marlboro brand in the U.S., slumped 6.2% in New York trading. Philip Morris International Inc., which sells the brand internationally, also declined. Stock of 22nd Century Group Inc., which sells cigarettes with very low nicotine levels, jumped 11%.

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