UPDATE: Consumer Advocacy Group Petitions For Cancer Causing Color Additive in KO & PEP
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
25 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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(Updated - March 5, 2012 5:37 PM EST)
(Updated - March 5, 2012 4:47 PM EST)
According to a Bloomberg report, a consumer advocacy group CPSI has petitioned to the FDA for the removal of the chemical 4-methylimidazole, which is found in Coca-Cola, Pepsi Cola, Diet Coke and Diet Pepsi. 4-methylimidazole is used as a coloring to make the soda have a caramel look.
The group said Coca-Cola (NYSE: KO) and Pepsi (NYSE: PEP) are needlessly exposing million of people to a chemical that causes cancer.
However, the FDA issued an email, stating there is no reason to believe there is immediate threat, and said a human would have to drink more than one thousand cans of pop (in a single day) to match the doses that were administered to lab rats.
The advocacy group said KO & PEP is causing cancer to approx. 15,000 per year.
In a statement to StreetInsider.com, the American Beverage Association said: "This is nothing more than CSPI scare tactics, and their claims are outrageous. The science simply does not show that 4-MEI in foods or beverages is a threat to human health. In fact, findings of regulatory agencies worldwide, including the U.S. Food and Drug Administration, European Food Safety Authority and Health Canada, consider caramel coloring safe for use in foods and beverages. CSPI fraudulently claims to be operating in the interest of the public's health when it is clear its only motivation is to scare the American people."
Coca-Cola Company also weighed in Monday afternoon. Spokesman Ben Sheidler stated: "Unlike CSPI, The Coca-Cola Company deals in hard facts. Fact: The body of science about 4-MEI in foods or beverages does not support the erroneous allegations that CSPI would like the public to believe. The 4-MEI levels in our products pose no health or safety risks. Outside of California, no regulatory agency concerned with protecting the public's health has stated that 4-MEI is a human carcinogen. The caramel color in all of our ingredients has been, is and always will be safe. That is a fact."
PEP shares are currently trading at $62.78, up $0.26 (+0.41%) and KO is at $69.06, down $0.12 (-0.17%).
(Updated - March 5, 2012 4:47 PM EST)
According to a Bloomberg report, a consumer advocacy group CPSI has petitioned to the FDA for the removal of the chemical 4-methylimidazole, which is found in Coca-Cola, Pepsi Cola, Diet Coke and Diet Pepsi. 4-methylimidazole is used as a coloring to make the soda have a caramel look.
The group said Coca-Cola (NYSE: KO) and Pepsi (NYSE: PEP) are needlessly exposing million of people to a chemical that causes cancer.
However, the FDA issued an email, stating there is no reason to believe there is immediate threat, and said a human would have to drink more than one thousand cans of pop (in a single day) to match the doses that were administered to lab rats.
The advocacy group said KO & PEP is causing cancer to approx. 15,000 per year.
In a statement to StreetInsider.com, the American Beverage Association said: "This is nothing more than CSPI scare tactics, and their claims are outrageous. The science simply does not show that 4-MEI in foods or beverages is a threat to human health. In fact, findings of regulatory agencies worldwide, including the U.S. Food and Drug Administration, European Food Safety Authority and Health Canada, consider caramel coloring safe for use in foods and beverages. CSPI fraudulently claims to be operating in the interest of the public's health when it is clear its only motivation is to scare the American people."
Coca-Cola Company also weighed in Monday afternoon. Spokesman Ben Sheidler stated: "Unlike CSPI, The Coca-Cola Company deals in hard facts. Fact: The body of science about 4-MEI in foods or beverages does not support the erroneous allegations that CSPI would like the public to believe. The 4-MEI levels in our products pose no health or safety risks. Outside of California, no regulatory agency concerned with protecting the public's health has stated that 4-MEI is a human carcinogen. The caramel color in all of our ingredients has been, is and always will be safe. That is a fact."
PEP shares are currently trading at $62.78, up $0.26 (+0.41%) and KO is at $69.06, down $0.12 (-0.17%).
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