British American Tobacco’s share price fell by 11% on Monday morning, wiping R176 billion from its market cap.
The selloff comes on the back of a report that the US government may ban menthol cigarettes.
Menthol cigarettes account for about 25% of BAT sales in the US.
In 2013 the US Food and Drug Administration determined that menthol cigarettes are more addictive and damaging than regular cigarettes.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
When you add menthol… it’s less irritating on your throat… making it more attractive to children… it makes cigarettes more addictive…— Dr Richard van Zyl-Smit, University of Cape Town Lung Institute
I doubt we would allow tobacco [if it was discovered today]…— Dr Richard van Zyl-Smit, University of Cape Town Lung Institute
If you are smoking tobacco, vaping is a whole lot safer… If you’re a non-smoker there’s no reason to go near them… if you can’t stop smoking, vaping is probably a safer option…— Dr Richard van Zyl-Smit, University of Cape Town Lung Institute
You’re unlikely to be able to smoke 20 cannabis joints a day like you can cigarettes… one puff of a cannabis joint here or there is unlikely to do enormous amounts of harm… our advice from a lung specialist point of view is to avoid everything as best you can…— Dr Richard van Zyl-Smit, University of Cape Town Lung Institute
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