NEW YORK, NY / ACCESSWIRE / February 2, 2018 / Altria Group and Philip Morris both saw red on Thursday as lawmakers in two states have showed concerns about Philip Morris' iQOS electronic tobacco product. Altria being the parent company of Philip Morris sunk alongside as Philip Morris shares fell.

RDI Initiates Coverage on:

Altria Group, Inc.
https://rdinvesting.com/report/?ticker=MO

Philip Morris International Inc.
https://rdinvesting.com/report/?ticker=PM

Altria Group, Inc. shares closed down 0.58% yesterday on trading volume double than usual. The company, which is the parent company of Philip Morris, may have seen some red regarding the concerns that two lawmakers have over a product that Philip Morris is trying to gain U.S. clearance for. Altria also announced this week that its CEO Marty Barrington is retiring and that a company veteran who has been with the company for 25 years is taking his place. Barrington who has had role of CEO for six years will retire in May and in his place, Howard Willard will be the company's new CEO. He is currently the operating chief. Altria also announced that its Board of Directors elected Mark E. Newman to the Board. He is Senior Vice President and Chief Financial Officer of global chemical company, the Chemours Company.

Access RDI's Altria Group, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=MO

Philip Morris International Inc. shares closed down 1.92% on Thursday with about 7.6 million shares traded. The stock slid as traders showed some worry over two Democratic U.S. senators saying they were concerned about the company's clinical trials. This isn't the best news to hear as Philip Morris is in the process of trying to gain U.S. clearance to market its iQOS electronic tobacco product as a product that is less risky than cigarettes. Both Senator Dick Durbin of Illinois and Richard Blumenthal of Connecticut have cited reports that indicate there are problems with the company's trials which support its application to the FDA. The FDA's advisory committee also recently had serious concerns as well over whether or not the company's product meets the requirements of its claim. According to Senator Durbin, the concerns of the committee show that the product fails to meet the requirements under the Tobacco Control Act for modified risk. Senator Blumenthal commented, "I have serious concerns over reports that clinical trials for this product have been severely lacking in quality and sophistication. FDA must learn from past mistakes and thoroughly scrutinize all supporting materials submitted by (Philip Morris International)."

Access RDI's Philip Morris International Inc. Research Report at:
https://rdinvesting.com/report/?ticker=PM

Our Actionable Research on Altria Group, Inc. (NYSE: MO) and Philip Morris International Inc. (NYSE: PM) can be downloaded free of charge at Research Driven Investing.

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