22nd Century Group (XXII)

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Tobacco use is the leading cause of preventable death in the U.S., taking 480,000 lives each year. It's also highly costly to society, triggering a $300 billion loss in direct healthcare and productivity costs yearly, according to the FDA. An estimated 15% or 36.5 million Americans over the age of 18 smoke cigarettes, and more than 16 million of them live with a smoking-related disease, the CDC said. The FDA's plan is for a world "where cigarettes would no longer create or sustain an addiction, and where adults who still need or want nicotine could get it from alternative and less harmful sources." That means big tobacco firms could have to change their business to cater to new combustible and non-combustible product standards. The FDA will release guidelines for what will be considered acceptable nicotine levels soon, and it expects a deadline of August 8, 2021 for combustible products and August 8, 2022 for non-combustible products to submit product reviews under those new guidelines. Stock of 22nd Century Group Inc (XXII) , a plant biotech company that focuses on altering the levels of nicotine and other nicotinic alkaloids in tobacco plants, surged 20% at the market close.

Tobacco Stocks Go Up in Smoke After FDA Issues Plan to Curb Tobacco-Related Deaths - Pg.2 - TheStreet