Philip Morris and Altria Falter as Biden Administration Plans Nicotine Reduction

Menthol cigarettes and cigarettes with a high level of nicotine could both be on the chopping block, The Wall Street Journal and Bloomberg report, as the Biden administration considers new restrictions on tobacco products sold in the USA. Major tobacco company and Marlboro parent Altria Group (NYSE: MO) and international cigarette maker Philip Morris International (NYSE: PM) both slipped lower on the news in afternoon trading. The move would aim at making tobacco products less addictive and thus theoretically make alternative products believed to be healthier more appealing.