News Focus
News Focus
icon url

EZ2

07/10/07 8:22 AM

#1426 RE: NovoMira #1425

US court to hear arguments in 'light' smokes case
Tue Jul 10, 2007 7:00AM EDT
NEW YORK, July 10 (Reuters) - Several major tobacco companies are set to go to a U.S. appellate court on Tuesday to argue about whether a $200 billion lawsuit against them by "light" cigarette smokers should proceed as a class action.

The hearing scheduled before the U.S. Court of Appeals for the Second Circuit is the latest development in the closely watched case, which could potentially expose tobacco companies to hundreds of billions of dollars in liabilities.

The defendants in the case include Altria Group Inc.'s (MO.N: Quote, Profile, Research) Philip Morris USA unit; Reynolds American Inc.'s (RAI.N: Quote, Profile, Research) R.J. Reynolds Tobacco Co.; Loews Corp.'s (LTR.N: Quote, Profile, Research) Lorillard Tobacco unit; Vector Group Ltd.'s (VGR.N: Quote, Profile, Research) Liggett Group; and British American Tobacco Plc's (BATS.L: Quote, Profile, Research) British American Tobacco (Investments) Ltd.

The appellate court's decision, although not expected on Tuesday, would help shape how far the case is ultimately allowed to go, said Benjamin Zipursky, professor at Fordham University School of Law.

At Tuesday's hearing, observers should watch out for any indications that the court might give of its thinking, Zipursky said. "Do the judges appear to be leaving any room for partial classes or subsets?"

The lawsuit filed in May 2004 argued that tobacco companies defrauded smokers into thinking "light" cigarettes were safer than regular ones.

In September of last year, U.S. Senior District Judge Jack Weinstein in Brooklyn, New York, granted class-action status in the case, and the tobacco companies appealed.

The class includes tens of millions of people who bought cigarettes of any of 65 "lights" brands over a 35-year period, according to tobacco companies. Philip Morris USA introduced the first light cigarette, Marlboro Lights, in 1971.

Tobacco companies have argued that various smokers' reasons for choosing "light" cigarettes and beliefs about the risks were different, making it inappropriate to group them together in a class action.

"The class members' disparate knowledge, beliefs, and reasons for choosing lights preclude class treatment," tobacco companies said in their brief to the appellate court earlier this year. "This is an unlawful class certification order, exemplifying the 'systemic urge to aggregate litigation.'"

Lawyers for the smokers have argued that a class action is the only way to practicably take the case forward and that the district court's decision should be upheld.

"The broad scope of this fraud, the relatively small value of individual claims involved, and the complexity of this case make a class action the only meaningful opportunity to redress this wrong," they said in their brief.

icon url

EZ2

07/11/07 3:23 PM

#1430 RE: NovoMira #1425

Press Release Source: Altria Group, Inc.


Altria Group, Inc. to Host Webcast of 2007 Second-Quarter Results
Wednesday July 11, 2:00 pm ET


NEW YORK--(BUSINESS WIRE)--Altria Group, Inc. (NYSE:MO - News) will host a live audio webcast at www.altria.com on Wednesday, July 18, 2007 at 9:00 a.m. ET to discuss 2007 second-quarter results, which will be issued at approximately 7:00 a.m. ET the same day.
During the webcast, Dinyar S. Devitre, senior vice president and chief financial officer, will discuss the company's 2007 second-quarter results and answer questions from the investment community and news media. The webcast will be in a listen-only mode.

An archived copy of the webcast will be available until 5:00 p.m. ET on Thursday, August 16, 2007 at www.altria.com.



Contact:
Investor Relations &
Financial Communications
917-663-3463
or
917-663-4043

--------------------------------------------------------------------------------
Source: Altria Group, Inc.
icon url

EZ2

07/16/07 9:28 AM

#1431 RE: NovoMira #1425

Alert !!

DJ FDA May Get OK To Regulate Harmful Components Of Tobacco Pdts

--------------------------------------------------------------------------------

Dow Jones Real-Time News for InvestorsSM
03:32 a.m. 07/16/2007



WASHINGTON (AP)--The federal agency charged with keeping food and drugs from harming people may soon be asked to take a consumer product that kills more than 400,000 people a year and make it safer.

The product is the cigarette - generally acknowledged as anything but safe. Smoking accounts for nearly one in five deaths in the United States.

That toll can be reduced, tobacco foes say, and they point to a bill widely expected to pass a key Senate committee Wednesday as the tool to make it happen.

The legislation would give the Food and Drug Administration the same authority over cigarettes and other tobacco products that the regulatory agency already has over countless other consumer products. It's an authority the Supreme Court ruled in 2000 that the FDA does not have. But neither is it something the agency necessarily wants, according to past comments by FDA commissioner Dr. Andrew von Eschenbach.

The bill would allow the FDA to regulate the levels of tar, nicotine and other harmful components of tobacco products. Cigarette smoke alone contains more than 4,000 chemicals, more than 40 of which are known to cause cancer.

New products would need FDA approval before they could be sold, according to the legislation. It also would authorize the FDA to set national standards for cigarettes and other tobacco products to control how they are made, as well as force the disclosure of their ingredients, including compounds and additives, and in what quantities. That, supporters claim, should help expose and ultimately limit the ways cigarettes are engineered to the detriment of the public's health.

"If the FDA only prevented tobacco companies from manipulating their products to make it easier to start and harder to quit, it will make a major contribution to reducing the number of people who die," said Matthew Myers, president of the National Center for Tobacco-Free Kids, a supporter of the legislation, which has faltered in previous Congresses.

No one among those for or against the Senate bill, mirrored by matching legislation in the House, believes it could result in a safe cigarette. There is consensus that there is no such thing. But those against the bill maintain it could create that impression.

"It would still be a deadly product. They are not going to make it a safe product by taking out particular smoke constituents. The problem is the public is going to perceive the product is safe because the FDA has assumed jurisdiction," said Dr. Michael Siegel, a Boston University School of Public Health professor.

But advocates say the bill would at a minimum give the FDA the authority to go where the scientific evidence takes it and only then make decisions based on that science to reduce the harm caused by tobacco.

"There is a broad range of actions that the FDA potentially could take, some of which we understand now and some we can only see dimly," said the University of California, San Diego's Dr. David Burns, scientific editor of several surgeon general's reports on tobacco. "To say that there's nothing we can do is nihilistic in thinking and inconsistent with science."

The bill also would keep tobacco companies from tinkering with their products in ways that would make them any more dangerous, supporters add.

"The tobacco industry would not be allowed to manipulate the ingredients - like increase nicotine or decrease nicotine or whatever they do - without disclosing it. The bill would put the burden of proof on industry to demonstrate to the FDA that what they're doing would not be more harmful," said M. Cass Wheeler, chief executive officer of the American Heart Association.

When asked for some likely targets that regulators could tackle, Centers for Disease Control and Prevention chemist David Ashley rattled off more than a half dozen compounds in tobacco and smoke that worry scientists, even though it's unclear just how beneficial removing or reducing their levels would be. They include:

-Nitrosamines, a potent carcinogen. The burley tobacco used in American cigarettes is especially high in nitrosamines.

-Acetaldehyde, a potential carcinogen that may make tobacco more addictive. It's produced when sugars, added to tobacco, are burned.

-Cadmium and lead, two heavy metals that are toxic. Their levels generally depend on the environmental conditions where the tobacco was grown.

The elegance of the bill, Myers said, is it wouldn't dictate to the FDA how to proceed.

"This bill wisely doesn't try to predict what a cigarette will look like once FDA begins to take action. Instead, it says to the scientists at the FDA, 'You have the power to require changes in tobacco products in whatever ways you believe,"' Myers said.

But Ashley, an expert in the constituents of tobacco and tobacco smoke, cautions that cigarettes are a very complex product, and have traditionally changed with time as manufacturers tinker with them.

"One problem from a scientific standpoint is the product changes so often but the health effects are long-term. The cigarettes people are smoking today aren't the cigarettes of 10 years ago," Ashley said, adding: "It's hard to link a change in the products to a particular health end point because there's nothing you can get your hands around."

Another expert called the task of figuring out how to reduce tobacco's harm basic "bread-and-butter stuff" for the FDA.

"This is what they do all the time: develop performance criteria for products," said Jack Henningfield, an addiction expert and former tobacco researcher at the National Institute on Drug Abuse. That in turn would act as an incentive for tobacco companies to create products that are less harmful, he added.

As for the FDA, commissioner von Eschenbach said recently he wouldn't want his agency put in the position where it had to determine a cigarette is safe.

Nor would it appear that the agency could approve any new cigarette, even if it were purportedly safer, under the legislation, said Sen. Richard Burr, R-N.C., who opposes the bill.

"It's an impossible pathway to understand at an agency tasked with a mission that is to prove safety and efficacy," said Burr, adding that could keep any new reduced-harm tobacco product from coming on the market.

Philip Morris USA, maker of Marlboro, the nation's top-selling cigarette brand, supports the bill. R.J. Reynolds Tobacco Co. and others oppose the legislation, saying its restrictions on advertising would help cement Philip Morris' No. 1 market position.





icon url

EZ2

07/16/07 1:59 PM

#1432 RE: NovoMira #1425

LOL ~~ yeah, it's real good news....LMAO !!! Wonder what all 50 states will do when they can NO LONGER balance their state budget deficits on the back of SAG / state tax coffers from tobacco !?!?!? Duh.....' most are head in the sand ' when it comes to KILLING the GOLDEN GOOSE !! Hilarious !!!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Cigarette Sales Drop, Tax Revenue Up
Monday July 16, 1:49 pm ET
Cigarette Sales Drop, but More Revenue From Higher Tax in N.C.


RALEIGH, N.C. (AP) -- Fewer cigarettes have been sold in North Carolina since the state raised its tax on smokes, but revenue from the higher tax grew by $157 million, state officials said Monday.
Cigarette sales dropped by 18.5 percent as tax revenue increased in the first full year since the tax went up in September 2005, according to data from the state Division of Public Health and the Department of Revenue.

"This is good news for everyone," state health director Leah Devlin said. "This means fewer North Carolinians and their families will face illness, disability and early death. The increased tax has improved the health of both the state's people and its coffers."

North Carolina's tax on cigarettes went from five cents to 30 cents on Sept. 1, 2005. It went up an additional five cents, to 35 cents total, on July 1, 2006.

The full-year data released Monday amplifies figures the state released last fall, after the first 10 months of the higher rate. In November, officials noted sales were down 18 percent while cigarette tax revenues were up by more than $110 million.

Graham Boyd, executive director of the Tobacco Growers Association of North Carolina, said the increased revenue may look good, but may not reflect the full economic impact of depressed sales.

Boyd pointed to last month's announcement by Philip Morris USA that it will close its massive cigarette factory in Concord, a move that will cost the area 2,500 jobs.

"When you read the news about processing factories in Cabarrus County closing, with high wage, high skill jobs, how do you measure that?" he said. "You may be gaining more in per pack tax revenue, but the net effect may not be $157 million."