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Reports US

US stock market daily report (August 08, 2014, Friday)

August 11, 2014, Monday, 04:19 GMT | 23:19 EST | 07:49 IST | 10:19 SGT
Contributed by Millennium Traders


Over the next five years, the Food and Drug Administration (FDA) plans to spend $270 million on over 45 research projects for e-cigarettes. According to a press release on Friday from New York Attorney General Eric Schneiderman, U.S. Attorneys Generals from 29 states urged the FDA to strengthen its proposed regulation on electronic cigarettes to better protect young people from nicotine addiction. Schneiderman said in an announcement, "While we applaud the FDA's proposal to start regulating these tobacco products, it falls far short of what is needed to protect our youth. Electronic cigarettes contain no tobacco but do contain nicotine, giving them the addictive qualities of regular cigarettes."

The Attorneys Generals are asking the FDA to prohibit flavored vape for e-cigs to nothing other than tobacco and menthol. Additional restrictions the AG's are wanting on electronic cigarettes include prohibiting television advertising as well as a ban on the wide variety of candy and fruit flavors that have helped make e-cigarettes popular. As an e-cigarette user - I don't believe the government should be able to limit vape flavors available to adults age 18+.

Additionally, they want restrictions on advertising and marketing for e-cigarettes, just like current restrictions on cigarettes. The request includes that e-cigarette makers will have to register with the FDA, adhere to minimum age and identification restrictions to prevent sales to underage youth and, must include health warning labels, among other obligations.

The American Vaping Association - which represents independent e-cigarette makers - said the FDA's proposed regulation "would decimate the small businesses that make up America's independent e-cigarette industry and remove a powerful tool smokers are using to kick the habit." As a user of e-cigarette, I personally know that the use of e-cigs has helped me to kick the habit. I am 8 months smoke free, thanks to e-cigarettes.

In a statement from the FDA, "If e-cigarettes have reduced toxicity, help smokers quit, or do not introduce adolescents to tobacco use, they may have the potential to reduce disease and death." The FDA stated that a full assessment of the public health impact on e-cigarettes is not complete and it was not clear when it would issue a final rule on e-cig marketing.

An FDA spokeswoman said bringing e-cigarettes under the agency's authority was "an important consumer protection."