Shares of Philip Morris International Inc. (NYSE:PM) rose 1% following the U.S. Food and Drug Administration's (FDA) authorization of 20 ZYN nicotine pouch products for marketing. The FDA's decision,
The Food and Drug Administration has authorized ZYN nicotine pouches, “making ZYN the first and only authorized nicotine pouch in the United
Philip Morris International shares edged up slightly after the Food and Drug Administration authorized marketing for 20 Zyn nicotine-pouch products. The stock rose about 1%, to $119.40, late Thursday morning. It is up 28% over the past 12 months.
These items have become popular in c-stores as traditional tobacco sales plunge, and their approval sets the stage for continued growth.
The U.S. Food and Drug Administration has authorized all ZYN Nicotine Pouch Products Currently Marketed by Swedish Match, a
Zyn and the retailers who sell the product have run afoul of regulators in recent years. The FDA in April of last year warned 119 retailers to stop selling Zyn to underage people, and the company was ordered to pay $1.2 million last year for violating Washington, D.C.’s smokeless tobacco ban.
The U.S. Food and Drug Administration formally authorized Zyn nicotine pouches for sale after conducting an "extensive scientific review" about their safety.
The Food and Drug Administration issued marketing granted orders to 20 Zyn nicotine pouch products. The announcement on Thursday marks the first nicotine pouch product to be authorized by the FDA.