Last week, the FDA issued marketing denial orders (MDOs) for JUUL’s products, effectively ordering the company to take its offerings off the shelves. The regulatory body claims there is not enough evidence to suggest that the “toxicological profile” of the products are up to the appropriate public health standards. Following the initial announcement of the FDA’s intentions, shares of Altria (MO) hit the skids and shed 9% in the subsequent session. The tobacco giant acquired a 35% stake in Juul in 2018, and is considered a vital part of Altria’s reduced-risk product portfolio.
https://www.tipranks.com/news/article/altria-despite-concerns-share-underperformance-merits-an-upgrade-says-morgan-stanley?utm_source=advfn.com&utm_medium=referral