FinancialBuzz.com News Commentary
NEW YORK, July 23, 2020 /PRNewswire/ -- Nicotine addiction remains a major medical problem in many countries around the world. Additionally, the recent spike in popularity of e-cigarettes certainly didn't help. According to a report by Politico, the nation's top scientists and doctors lack approved therapies to help millions of teenagers stop using e-cigarettes even as the federal government deals with regulations aimed at keeping new generations from becoming addicted to nicotine. "We have done far too little in examining what is the best way to assist young people who become addicted to cigarettes or e-cigarettes to quit," said Matthew Myers, President of the Campaign for Tobacco-Free Kids. "It requires a real all-hands-on-deck effort." The report also indicates that advocates want the FDA to ban all vape flavors, including menthol, which enhance to the attraction of such products for young people. Earlier this year, the FDA issued a policy prioritizing enforcement against certain unauthorized flavored e-cigarette products that appeal to kids, including fruit and mint flavors. Under this policy, companies that did not cease manufacture, distribution and sale of unauthorized flavored cartridge-based e-cigarettes (other than tobacco or menthol) within 30 days risked FDA enforcement actions. TAAT Lifestyle & Wellness Ltd. (OTC: TOBAF) (CSE: TAAT), Altria Group, Inc. (NYSE: MO), Schweitzer-Mauduit International, Inc. (NYSE: SWM), Turning Point Brands, Inc. (NYSE: TPB), Imperial Brands PLC (OTC: IMBBY).
After the U.S. passed the Farm Bill in late 2018, legalizing the commercialization of hemp-derived CBD products and catalyzing the market, hemp and CBD products started to steal market share from other markets, such as tobacco. For example, hemp citrates converge with the tobacco industry, which may inadvertently cause positive effects across the board. Researchers at University College London conducted a small study in 2013 of 24 smokers and gave them an inhaler with CBD or placebo for one week. The results of the study showed that "over the treatment week, placebo treated smokers showed no differences in number of cigarettes smoked. In contrast, those treated with CBD significantly reduced the number of cigarettes smoked by ~40% during treatment."
TAAT Lifestyle & Wellness Ltd. (OTC: TOBAF) (CSE: TAAT) announced yesterday breaking news that, "OTC Markets Group Inc. (OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Taat Lifestyle & Wellness Ltd., an early-stage life sciences firm that has developed a better-for-you alternative to traditional cigarettes known as Beyond Tobacco™, has changed its ticker symbol on the Pink® market from its original symbol MOLOF to TOBAF, taking effect at market open on July 22, 2020.
At this time, the Company is undertaking the application process to "uplist" from the Pink® market to the OTCQB® exchange ("OTCQB"), which can represent an important step for Taat as an opportunity to provide greater transparency for its U.S. investors. Investors in the Company can benefit from Taat being listed on the OTCQB because streamlined market standards enhance information availability to the general public. To qualify for listing on the OTCQB, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
This symbol change is only applicable to U.S. exchanges and does not represent a material change to the Company or its business activities. Any inquiries regarding this symbol change may be directed to Taat's investor relations department."
For our latest "Buzz on the Street" Show featuring TAAT Lifestyle & Wellness Ltd. recent corporate news, please head over to: https://www.youtube.com/watch?v=dxtIAjsPgnc.
Altria Group, Inc. (NYSE: MO) announced earlier this month that the U.S. Food and Drug Administration (FDA) authorized the marketing of the IQOS tobacco heating system as a modified risk tobacco product with a reduced exposure claim. IQOS is the first next-generation inhalable tobacco product to be authorized as a modified risk tobacco product. Unlike cigarettes, the IQOS system heats but does not burn tobacco. Philip Morris USA (PM USA), under an exclusive licensing agreement with Philip Morris International (PMI), commercializes IQOS in the United States. "We're delighted that the FDA authorized IQOS to be marketed as a modified-risk tobacco product. This authorization gives PM USA an opportunity to communicate additional benefits of switching to IQOS and this decision is an important step for adult smokers. Our 10-year vision is to responsibly lead the transition of adult smokers to a non-combustible future. IQOS is a key part of that future as we develop our portfolio of FDA-authorized, non-combustible products and actively switch adult smokers to them," said Billy Gifford, Chief Executive Officer of Altria.
Schweitzer-Mauduit International, Inc. (NYSE: SWM) together with its subsidiaries, provides engineered solutions and advanced materials for various industries worldwide. The Company offers cigarette designers a complete wish list of performance characteristics and options in tobacco and cigarette papers that enable them to differentiate their products while meeting the most stringent regulatory and industry demands. And all tobacco papers we manufacture are produced to the exacting specifications and tight tolerances required for flawless runability on today's high-speed manufacturing equipment.
Turning Point Brands, Inc. (NYSE: TPB), a leading provider of Other Tobacco Products ("OTP") and adult consumer alternatives, announced on June 10th, the acquisition of certain tobacco assets and distribution rights from Durfort Holdings S.R.L. and Blunt Wrap USA for a total consideration of $46 million. Durfort is the long-time supplier of TPB's Make-Your-Own cigar wrap products. The transaction combines Durfort's and Blunt Wrap USA's world-class intellectual property and manufacturing know-how with TPB's market leading Zig-Zag® MYO cigar wraps brand and national distribution. "We are pleased to enter into this transaction with our business partner," said Larry Wexler, TPB President and CEO. "In addition to the immediately accretive financial benefits, the transaction secures long-term control of our Zig-Zag MYO cigar wrap products and provides us access to a deep portfolio of tobacco products with significant immediate and future strategic value.
Imperial Brands PLC (OTCQX: IMBBY) subsidiary Fontem US LLC (Fontem US) announced back in April that it had submitted Premarket Tobacco Product Applications (PMTAs) to the U.S. Food and Drug Administration (FDA) seeking authorization for the continued marketing of a wide range of its myblu electronic vaping products. Fontem US's blu products play a fundamental role in the company's goal of providing adult smokers with options that are potentially less harmful than combustible tobacco products. "We agree that the electronic vaping industry should be held to the highest product and marketing standards while providing adult smokers with alternative products that could serve the interest of the public health," said Antoine Blonde, president of Fontem US. "Fontem US looks forward to working with the FDA as the agency develops and enforces an evidence-based regulatory policy."
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