FDA New Direction on Tobacco – Our Take

The U.S. Food and Drug Administration surprised the markets with a paper outlining a new approach to tobacco regulation. It's focused on nicotine consumption and looks to new reduced-harm products to pull demand away from traditional cigarettes.

In this Viewpoints paper, we discuss:
  • Risks and opportunities being tied into a new regulatory framework for tobacco firms
  • Next generation products – what are they, what's the demand growth, who has them, who doesn't

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