Tag: United States

  • Universal results webcast

    Universal results webcast

    Universal Corporation is due to webcast a conference call at www.universalcorp.com on February 7 following the release of its results for the third quarter of fiscal year 2019 after market close on that date.

    The conference call, which will begin at 17.00 Eastern Time and which will be in listen-only mode, will be hosted by vice president and treasurer Candace C. Formacek.

    A replay of the webcast will be available at the same site through May 7.

    Additionally, a taped replay of the call will be available from 20.30 on February 7 through February 21 at (855) 859-2056, using the telephone replay identification number 2691856.

  • New directions for Altria

    New directions for Altria

    Altria’s cigarette shipment volume during the 12 months to the end of December, at 109,791 million, was down by 5.8 percent on that of the 12 months to the end of December 2017, 116,606 million. Altria is the parent company of Philip Morris USA and Nat Sherman, as well as U.S. Smokeless Tobacco Company (USSTC), John Middleton, Nu Mark, Ste. Michelle Wine Estates and Philip Morris Capital Corporation.

    Marlboro shipments were down by 5.2 percent to 94,770 million, while shipments of other premium brands were down by 7.0 percent to 5,552 million.

    Discount brand shipments were down by 11.2 percent to 9,469 million.

    Altria’s share of the US retail cigarette market during the year to the end of December, at 50.1 percent, was down by 0.6 of a percentage point. Marlboro’s share was down by 0.3 of a percentage point to 43.1 percent, while that of the company’s other premium brands was down by 0.1 of a percentage point to 2.6 percent. The company’s discount-brands’ share was down by 0.2 of a percentage point to 4.4 percent.

    In reporting its results yesterday, Altria said that the reported domestic cigarette shipment volume decline of 5.8 percent had been primarily driven by the industry’s rate of decline, retail share losses and trade inventory movements, partially offset by one extra shipping day. ‘When adjusted for trade inventory movements and one extra shipping day, … domestic cigarette shipment volume decreased by an estimated 5.5 percent,’ it said. ‘Total domestic cigarette industry volumes declined by an estimated 4.5 percent.’

    Middleton’s cigar shipments during the year to the end of December, at 1,601 million, were up by 3.8 percent on those of the year to the end of December 2017, 1,542 million.

    Shipments of Black & Mild cigars were up by 4.1 percent to 1,590 million, while shipments of other brands were down by 26.7 percent to 11 million.

    USSTC’s smokeless product shipments (cans and packs) during the year to the end of December, at 832.6 million, were down by 1.0 percent on those of 2017, 841.3 million.

    Copenhagen shipments were roughly unchanged at 531.7 million, while Skoal shipments were down by 4.5 percent to 231.1 million.

    Other-brand shipments were up by 2.9 percent to 69.8 million.

    USSTC’s share of the retail market in smokeless tobacco was unchanged at 54.0 percent. Copenhagen’s share was increased by 0.4 of a percentage point to 34.4 percent, while Skoal’s share was down by 0.5 of a percentage point to 16.2 percent. The share of the company’s other brands was increased by 0.1 of a percentage point to 3.4 percent.

    Altria reported that it had signed and closed a $12.8 billion investment in JUUL, the US leader in the e-vapor market, representing a 35 percent economic interest.

    And it reported that it had entered into an agreement to acquire newly issued shares in Cronos Group Inc, a leading global cannabinoid company, headquartered in Toronto, Canada. ‘These shares represent a 45 percent equity stake for an investment of approximately $1.8 billion (approximately CAD $2.4 billion),’ it said.

    In presenting the results, Altria’s chairman and CEO Howard Willard said the company had closed out 2018 with excellent full-year adjusted diluted earnings-per-share growth and had continued to reward shareholders by “returning” $5.4 billion in cash through dividends.

    “PM USA stabilized Marlboro and strengthened our combustible business,” he said.

    “We also took proactive steps that we believe uniquely position us for long-term success.

    “Altria enters 2019 with an evolved business platform that includes our strong core tobacco businesses and new strategic investments with tremendous potential for growth.”

  • TMA buys Tobacco Reporter

    TMA buys Tobacco Reporter

    The US-based TMA announced on Friday that it had reached agreement to acquire assets of the international multi-platform trade publisher and conference producer SpecComm International, based in Raleigh, North Carolina.

    ‘Assets acquired by TMA include the premier nicotine and tobacco conference, GTNF; the oldest tobacco and nicotine business trade magazine, Tobacco Reporter; vaping community stalwart Vapor Voice; tobacco farming staple Tobacco Farm Quarterly; and the leading international trade exposition and congress, TABEXPO,’ the TMA said in a press note issued through PRNewswire.

    ‘The upcoming TABEXPO Amsterdam 2019 will follow the success of TABEXPO London 2015 and is a marquee all-industry international showcase, networking platform and congress for the entire nicotine and tobacco community. The TMA’s involvement will further enhance TABEXPO’s profile.

    ‘Launched in 1994, TABEXPO grew to strategic importance under the dynamic management of British entrepreneur David Pike and the SpecComm events team led by publisher and global event director Elise Rasmussen. With David Pike’s retirement last year, the TABEXPO license was acquired by British businessman Steve Fowler.  Mr. Fowler built his pet-care business into a 50-store chain before selling it in 2016, and also served as a leading figure in his industry’s trade association. He is keen to bring his trading expertise to this new venture and work with TMA.’

    “Having served as a director and chairman of a trade association for more than 18 years, I’m delighted that TABEXPO 2019 will benefit from the support of TMA and its membership, and look forward to working with them,” said Fowler.

    ‘TMA was founded in 1915 to provide unbiased information to stakeholders at a time of policy and industry uncertainty, and act as a convener of forums to address pressing issues. Today, TMA remains true to the ethos of these founding principles as its members and the wider tobacco and nicotine stakeholder community grapple with pressing issues. Chris Greer, president and CEO of TMA said, “Our members will now be able to draw on the huge breadth and depth of knowledge that the combined team will offer, both in traditional and next generation products”.

    ‘Elise Rasmussen, the new TMA vice president of sales and marketing said she was confident that TABEXPO 2019 would be the best TABEXPO event to date, citing the continuity of experience and know-how that the original sales team brings, now backed by TMA and the expertise of Steve Fowler and TEM. “My sales team will provide its in-depth knowledge of our customers, their business needs and objectives, which will continue to benefit from the history and experience of our TMA colleagues,” she said.’

  • A plea for civility

    A plea for civility

    In the tobacco harm reduction debate, civility has gone up in smoke, according to a vaping advocate writing at filtermag.org.

    ‘In the pursuit of reducing the harms caused by cigarettes, those of us who advocate for vaping as a public-health harm reduction tool are constantly battling with bullying and harassment, “justified” by moral outrage,’ said Dr. Carrie Wade, who is a senior fellow and the harm reduction policy director for the R Street Institute.

    Wade said that during her first foray into this arena, at the US E-Cig summit in 2017, she was surprised at the level of vitriol she witnessed, at the jeering and boos as different opinions, approaches and research were presented.

    Since then she had experienced such attacks, with the most recent on January 15 when she and her fellow panelists were invited by a state tax board to present on tobacco harm reduction and epidemiology, only to be openly mocked when answering questions from board members.

    But Wade admitted that there were bad actors on both sides. ‘Those who advocate for, or produce and sell e-cigarettes or e-liquids, are also too often guilty of incivility,’ she said…

    ‘Accounts of harm reduction advocates behaving badly are often shared, and there is vitriol on both sides — just look at any Twitter debate around the issue (and yes, I’m ashamed to admit that I’ve taken the bait a couple times myself). It’s easy for those of us on either side of the debate to imagine that the unprofessionalism is one-sided, but that is not the case.’

    Wade pointed out that the major charity Cancer Research UK (CRUK) had recently adopted strict anti-bullying and harassment policies – though these had not been born out of a need to protect those who espoused tobacco harm reduction.

    ‘Anti-bullying and harassment policies should perhaps become much more widespread,’ she said. ‘After all, progress rarely happens without some degree of conflict, but I would argue that it never happens without a willingness to remain civil, to find common ground and compromises. The US surgeon general has correctly pointed this out, stating that personal attacks make future discussion or collaboration unlikely.’

  • Altria to webcast results

    Altria to webcast results

    The Altria Group is due to host a live audio webcast starting at 09.00 Eastern Time on January 31 to discuss its 2018 fourth-quarter and full-year business results.

    The company will issue a press note containing its business results about 07.00 on the same day.

    During the webcast, Altria’s chairman and CEO Howard Willard and vice chairman and CFO Billy Gifford will discuss the results and answer questions from the investment community and news media.

    The webcast, which will be in listen-only mode, can be accessed at altria.com or through the Altria Investor App.

    Pre-event registration is necessary via www.altria.com/webcasts.

    An archived copy of the webcast will be available on altria.com or through the Altria Investor App.

    The free app is available for download at www.altria.com/irapp or through the Apple App Store or Google Play.

  • Cigarette machinery auction

    Cigarette machinery auction

    The US-based Iron Horse Auction Company is to offer cigarette machinery and support equipment during an on-line auction scheduled for January 21-28.

    The auction will include Aiger, Decouflé, Hauni, ITM and Molins machinery.

    Iron Horse, which is in Rockingham, North Carolina, has been retained to hold an auction of the assets of North Carolina Tobacco International.

    All of the machinery and equipment, which can be viewed here, was previously offered by Iron Horse at auction in June 2018 on the order of the United States Bankruptcy Court for the Middle District of North Carolina.

    At that time, three bidders that participated in the auction did not pay for the machinery and equipment they had bid for; so the bankruptcy trustee is currently seeking relief through the courts to make the bankruptcy estate whole from the previous auction.

    Inspections of the machinery and equipment can be undertaken at 136 Collins Avenue, Norwood, North Carolina, between 10.00 and 16.00 on January 17 and 18.

  • Rural re-education

    Rural re-education

    The US Food and Drug Administration is broadening the reach of its The Real Cost campaign aimed at preventing rural-based teenagers from using smokeless tobacco.

    According to a note issued through its Center for Tobacco Products, the FDA said the campaign had ‘educated nearly 600,000 rural male teens on the dangers of smokeless tobacco use – including loss of control, gum disease, tooth loss, and multiple kinds of cancer’. ‘The campaign, which launched in 35 rural markets around the United States in 2016, will now have ads placed in 20 states across the country, ultimately reaching nearly three million youth,’ the note said.

    ‘Smokeless tobacco includes different types of products, such as dip, chew, snus and types of tobacco that dissolve when placed in the mouth.

    ‘According to the Substance Abuse and Mental Health Services Administration, each day in the US more than 950 males under the age of 18 use smokeless tobacco for the first time, making early intervention critical.

    ‘The decision to expand the campaign to states comes after preliminary evaluation data shows that the campaign is effectively reaching and influencing changes in attitudes and beliefs in rural, male teenagers, ultimately reducing their odds of smokeless tobacco use.

    ‘At the state level, advertisements will run on digital platforms, such as Instagram, Facebook, YouTube, Hulu, and display banners on relevant web sites, as well as at localized events and locations such as Little League Baseball games.

    ‘The Real Cost Smokeless Tobacco Prevention Campaign is part of FDA’s ongoing efforts to prevent disease and death caused by tobacco use and complements the agency’s other youth tobacco prevention campaigns. FDA launched The Real Cost Smoking Prevention Campaign in February 2014; Fresh Empire, a multicultural tobacco prevention campaign in October 2015; and The Real Cost Youth E-Cigarette Prevention Campaign in September 2018.’

    More information about US public health education campaigns is available here.

  • ‘There is no epidemic’

    ‘There is no epidemic’

    ‘There is no epidemic in [US] teen vaping,’ according to a story by Michelle Minton published at insidesources.com.

    Minton pointed out that the latest survey data [on which claims of an epidemic are based in part] from the US Centers for Disease Control (CDC) dealt only with any electronic-cigarette use during the past month.

    Previous data, she said, had shown that fewer than six percent of teens (including 18-year olds, who can legally purchase e-cigarettes) vaped habitually (20-30 days a month).

    That meant that more than 94 percent of teens were not vaping regularly.

    Furthermore, Minton said, CDC data did not indicate how many of these teenage vapers were using nicotine, an important point given that previous research had found most of them were not.

    The data didn’t indicate either what percentage of teen e-cigarette users had never smoked, a number previous research put at less than one percent.

    More important, the latest CDC data revealed nothing about underage smoking, which was the single most important data point in evaluating the harms or benefits of teenage vaping.

    Since the introduction of e-cigarettes to the US market, adolescent use of cigarettes had more than halved, from 15.8 percent in 2011 to 7.6 percent in 2017.

    ‘Rather than e-cigarettes acting as a gateway to smoking, as is assumed by government and advocacy groups, this indicates that teenage e-cigarette use is more likely diverting would-be smokers toward a less harmful means of nicotine consumption and potentially away from nicotine consumption altogether,’ Minton said.

    Minton’s piece looks too at why government agencies and certain health activists focus more on scaring people about the unknown risks of e-cigarettes than helping them understand the relative risks of vaping compared to smoking.

  • Modified risk claim filed

    Modified risk claim filed

    The 22nd Century Group yesterday submitted a Modified Risk Tobacco Product application with the US Food and Drug Administration for the company’s very low nicotine content (VLNC) cigarettes.
    The company previously filed a Premarket Tobacco Application (PMTA).
    ‘Together, these important applications seek the FDA’s authorization to commercialize the company’s VLNTM cigarettes and to advertise that the VLNTM cigarettes contain 95 percent less nicotine as compared to the 100 leading cigarette brands in the United States,’ the company said in a press note.

  • All at sea over e-cigs

    All at sea over e-cigs

    The US Surgeon General (SG) has said that action must be taken against electronic-cigarette use to protect the health of the nation’s young people.
    In an advisory on e-cigarettes, VADM Jerome Adams said he was emphasizing the importance of protecting ‘our children’ from a lifetime of nicotine addiction and associated health risks by immediately addressing the epidemic of youth e-cigarette use.
    ‘The recent surge in e-cigarette use among youth, which has been fueled by new types of e-cigarettes that have recently entered the market, is a cause for great concern.
    ‘We must take action now to protect the health of our nation’s young people.’
    The SG’s intervention was welcomed by the American Medical Association (AMA).
    The AMA’s president, Barbara L. McAneny MD, said, in part, that the Association strongly supported the SG’s call for immediate action to address “the skyrocketing use of e-cigarettes by youth”.
    “Given the dramatic rise in e-cigarette use amongst young people in the last year alone, it is very clear that we must all do everything we can to help reverse this epidemic,” she was quoted as saying.
    “The only way to prevent another generation from developing nicotine dependence is to continue to raise awareness that e-cigarettes are harmful, powerfully addictive, and can often lead young people to smoke conventional cigarettes.
    “E-cigarettes have the potential to undermine the public health gains that have been made over the years in combatting the smoking epidemic.
    “We agree that parents, teachers and physicians are instrumental in reaching youth to help prevent e-cigarette use before it starts.
    “We look forward to working closely with the Surgeon General’s Office to help protect our nation’s youth from e-cigarettes and the harmful nicotine they contain.”