September 28th, 2010
MORGAN STANLEY RESEARCH
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TOBACCO: FDA MENTHOL REPORT UPDATE: STILL WAITING FOR BALANCE… – September 27, 2010 GMT (7 pgs/ 64 kb)
David Adelman +1 (1)212 761 6382 Morgan Stanley & Co. Incorporated Matthew Grainger (212) 761 8023 Toby McCullagh +44 (0)20 7425 6636 Morgan Stanley & Co. International plc
Investment conclusion: The most interesting development from today’s initial meeting of the TPSAC Menthol Report Subcommittee was that the three tobacco industry representatives – at least at this point – will be excluded from the process of writing the recommendation. The FDA made this determination based on its view that manufacturers would not want to provide a competitor with proprietary information. However, we believe that Lorillard, for example, would waive any issues to allow its Chief Scientist to remain fully engaged in the subcommittee’s menthol evaluation process.
September 24th, 2010
LONDON, ON, Sept. 22 /CNW/ – As the result of an investigation involving the London Customs & Excise Section of the Royal Canadian Mounted Police with the assistance of London Police Service and the Eastern Region OPP Highway Patrol, three Search Warrants were executed on two vehicles and a storage unit located in London, Ontario. Officers seized approximately 5,200 contraband cigarettes. The brand names include Canadian Light, Canadian Menthol, Canadian Original and Putter’s Light. Also seized were Titan Phillies Cigars, Borkum Riff Pipe Tobacco and Backwoods Honey Berry Tobacco.
This investigation is continuing and no charges have been laid to date.
