"Vape Makers See Supreme Court Ruling As A Weapon In Fighting FDA; The Court On Friday Overturned A Judicial Rule, Known As The Chevron Doctrine, Which Instructed Courts To Defer To Regulators On Certain Legal Issues" - STAT News
Portfolio Pulse from Benzinga Newsdesk
The Supreme Court has overturned the Chevron doctrine, which required courts to defer to regulators like the FDA on certain legal issues. This decision is seen as a victory for vape manufacturers, who believe it will weaken the FDA's power to regulate tobacco and nicotine products. The FDA has been trying to ban over 1 million vapes, citing public health concerns, but vape companies now see a potential breakthrough in their legal battles.
June 28, 2024 | 7:36 pm
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POSITIVE IMPACT
British American Tobacco (BTI) could benefit from the Supreme Court's decision to overturn the Chevron doctrine, as it may weaken the FDA's regulatory power over tobacco and nicotine products.
BTI, as a major player in the tobacco industry, stands to benefit from reduced regulatory pressures, potentially leading to increased sales and market share.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Altria Group (MO) is likely to see a positive impact from the Supreme Court's decision, as it could reduce the FDA's ability to regulate its vape products.
MO, a significant player in the vape market, may experience reduced regulatory hurdles, potentially boosting its product offerings and sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Philip Morris International (PM) may benefit from the Supreme Court's ruling, which could limit the FDA's regulatory authority over its nicotine products.
PM, involved in the nicotine product market, could see fewer regulatory challenges, potentially enhancing its market position and product range.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
22nd Century Group (XXII) could see a favorable impact from the Supreme Court's decision, as it may reduce the FDA's regulatory control over its innovative nicotine products.
XXII, known for its innovative nicotine products, might face fewer regulatory barriers, potentially accelerating its market growth and product development.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60