Philip Morris International (PM) Declares $1.14 Quarterly Dividend; 5.2% Yield
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Exclusive: Philip Morris paid for India manufacturing despite ban on foreign investment – documents
March 6, 2019 3:10 AM ESTBy Aditya Kalra
NEW DELHI (Reuters) - Philip Morris International Inc has for years paid manufacturing costs to its Indian partner to make its Marlboro cigarettes, circumventing a nine-year-old government ban on foreign direct investment in the industry, internal company documents reviewed by Reuters showed.
The Indian government in 2010 prohibited foreign direct investment (FDI) in cigarette manufacturing, saying the measure would enhance its efforts to curb smoking.
Restricting foreign investment leaves cigarette manufacturing largely in the hands of domestic players, and is supposed to prevent any foreign-funded expansion. A year after the government's decision, Japan Tobacco... More
FDA Commissioner Gottlieb Resigns - Washington Post, Citing Administration Official
March 5, 2019 3:03 PM EST(Updated - March 5, 2019 3:14 PM EST)
FDA Commissioner Scott Gottlieb resigned Tuesday, effective in about a month, according to the Washington Post, citing an administration official.
Tobacco names including Altria Group (NYSE: MO) climbed on the headline, while several biotech stocks including Vertex Pharma (NASDAQ: VRTX) declined.
... More