Investing.com -- Here is a summary of the most important regulatory news releases from the London Stock Exchanges on Friday, 3rd January. Please refresh for updates.
- British American Tobacco (LON:BATS) put a brave face on the U.S. Food and Drug Administration’s move to clamp down on flavoured vaping products, saying that it is “well positioned” to meet the new regulatory requirements.
- BAT said its U.S. subsidiary Reynolds American (NYSE:RAI) has already filed one so-called Pre-Market Tobacco Application with the FDA and will make further applications for approval of the rest of its vapor portfolio by the May 12 deadline.
- On Thursday, the FDA had announced a ban on sales of fruit- and mint-flavored vaping cartridges but said it would still allow those flavors to be sold from tanks in vaping shops. All vaping products will, however, need to have asked for regulatory approval by May 12.
- The measures are thus more of a blow to those that already have such products widely available on the market than to BAT, which has lagged players such as Juul Labs and NJOY.