Shares of both Altria Group (MO) and Philip Morris (PM) moved lower following news that Ned Sharpless, current director of the National Cancer Institute, will be named the next commissioner of the FDA. On Twitter, Sharpless has supported the FDA’s crackdown on e-cigarettes. “The @US_FDA has taken several steps to curb the appeal of #ecigarettes to kids. A very positive measure to address this growing concern,” he tweeted. British American Tobacco (BTI) and Imperial Brands (IMBBY) are other names in the tobacco space.
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