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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  British American Tobacco Plc    BATS   GB0002875804

BRITISH AMERICAN TOBACCO PLC

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Trump to meet with vaping industry as he mulls tighter regulation

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11/11/2019 | 02:50pm EST
President Donald Trump departs the White House en route Alabama

U.S. President Donald Trump said on Monday he will be meeting with vaping industry representatives as his administration considers tightening e-cigarette regulations amid a nationwide outbreak of vaping-related injuries and deaths.

"Will be meeting with representatives of the Vaping industry, together with medical professionals and individual state representatives, to come up with an acceptable solution to the Vaping and E-cigarette dilemma. Children’s health & safety, together with jobs, will be a focus!" he wrote on Twitter.

Trump did not give a time for the meeting or offer any other details. He said on Friday that his administration would come out with "an important position" on vaping this week.

On Thursday, the CDC reported there have been 2,051 confirmed and probable U.S. lung injury cases and 39 deaths associated with use of e-cigarettes, or vaping products. Nearly 85 percent of lung injury patients in the nationwide outbreak have reported using products containing THC, the component of marijuana that gets people high.

In the CDC analysis, THC was detected in 23 of 28 patient samples of lung cells, including from three patients who said they did not use THC products. Nicotine was detected in 16 of 26 patient samples.

U.S. public health officials have recommended that people avoid using e-cigarettes that contain THC or any products that come from illicit sources.

The Trump administration in September said the Food and Drug Administration was working on a "guidance document" that would lead to a ban of all e-cigarette flavors, aside from tobacco flavoring.

Health and Human Services Secretary Alex Azar told reporters that once the guidance was finalized, enforcement actions would begin to remove the products from store shelves.

In his remarks on Friday, Trump indicated that a flavor ban was still under consideration, but that other actions were as well, including raising the age limit for e-cigarette purchases.

Asked if Juul Labs Inc, which dominates the U.S. e-cigarette market, would participate in the discussions, a Juul spokesperson said the company was not lobbying on the issue.

"We are continuing to refrain from lobbying the administration on its draft flavor guidance while we take significant actions to combat underage use and convert adult smokers," the spokesperson said.

The White House did not immediately respond to a request for comment on Trump's tweet.

(Reporting by Doina Chiacu; Additional reporting by Uday Sampath in Bengaluru; Writing by Doina Chiacu and Tim Ahmann; Editing by Jonathan Oatis and Alistair Bell)

Stocks mentioned in the article
ChangeLast1st jan.
BRITISH AMERICAN TOBACCO PLC -0.35% 3339.28 Delayed Quote.3.57%
GRAINCORP LIMITED -1.72% 8.55 End-of-day quote.14.78%
IMPERIAL BRANDS PLC -0.58% 1797.2 Delayed Quote.-2.35%
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Financials (GBP)
Sales 2019 25 666 M
EBIT 2019 11 046 M
Net income 2019 6 649 M
Debt 2019 42 684 M
Yield 2019 6,26%
P/E ratio 2019 11,4x
P/E ratio 2020 10,2x
EV / Sales2019 4,64x
EV / Sales2020 4,44x
Capitalization 76 524 M
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Mean consensus BUY
Number of Analysts 22
Average target price 3 795,86  GBp
Last Close Price 3 347,00  GBp
Spread / Highest target 40,4%
Spread / Average Target 13,4%
Spread / Lowest Target -34,8%
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Managers
NameTitle
Jack Marie Henry David Bowles Chief Executive Officer & Executive Director
Richard George William Burrows Chairman
Alan Davy Director-Operations
Tadeu Luiz Marroco Executive Director & Finance Director
Marina Fagundes Bellini Director-Digital & Information
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ALTRIA GROUP-9.50%83 925
JAPAN TOBACCO INC.-5.15%36 783
ITC LIMITED-10.85%35 699
IMPERIAL BRANDS PLC-2.35%22 299