FDA Moves to Ban Menthol Cigarettes

The Food and Drug Administration is following the lead of President Joe Biden's recommendation and proposing to ban all menthol cigarettes, the last flavor the regulatory agency allows for tobacco. The FDA plans to introduce new regulations within the next year outlawing its use in cigarettes and cigars. British American Tobacco (NYSE: BTI) would be hurt most by the proposal as its Newport brand is the top-selling menthol cigarette by far, though Altria (NYSE: MO) and other tobacco companies produce mentholated cigarettes, too.