Ticker: FDA OKs first menthol e-cigarettes; Wall Street coasts to the close of another winning week
The Food and Drug Administration on Friday authorized the first menthol-flavored electronic cigarettes for adult smokers, acknowledging that vaping flavors can reduce the harms of traditional tobacco smoking.
The FDA said it authorized four menthol e-cigarettes from Njoy, the vaping brand recently acquired by tobacco giant Altria, which also sells Marlboro cigarettes.
The decision lends new credibility to vaping companies’ longstanding claim that their products can help blunt the toll of smoking, which is blamed for 480,000 U.S. deaths annually due to cancer, lung disease and heart disease. E-cigarettes have been sold in the U.S. since 2007 but in recent years their potential benefits for smokers have been overshadowed by their use by adolescents and teens.
Parents and anti-tobacco groups immediately criticized the decision, which follows years of advocacy efforts to keep menthol and other flavors that can appeal to teens off the market.
Wall Street coasts to the close of another winning week
U.S. stocks coasted to the close of their latest winning week on Friday, as Nvidia ’s stock continued to cool from its startling, supernova run.
The S&P 500 slipped 0.2%, but it remained close to its all-time high set on Tuesday and capped its eighth winning week in the last nine. The Dow Jones Industrial Average edged up by 15 points, or less than 0.1%, while the Nasdaq composite dropped 0.2%.
Nvidia again dragged on the market after falling 3.2%.