Send me real-time posts from this site at my email

FDA Asks to Extend E-Cig Application Deadline Until September

The Food and Drug Administration is seeking a 120-day extension of the deadline by which electronic cigarette manufacturers need to submit their premarket tobacco product applications.

The current May 12 deadline was imposed after a U.S. district court judge ruled the agency had shirked its responsibility by allowing e-cigs to be marketed without regulatory oversight. However, because of the "highly unusual circumstances" brought on by the coronavirus pandemic, the FDA believes the extension is warranted.

The regulator submitted its request to the same Maryland district court that originally demanded that the FDA take action. If granted, the extension would move the deadline to Sept. 9.

Image source: Getty Images.

E-cigarette manufacturers, including companies that make the e-liquids used in the devices, as well as cigars and other nicotine and tobacco products, need to submit applications to the FDA for review if they want to keep selling their products in the U.S.

So far only Philip Morris International (NYSE: PM) and British American Tobacco (NYSE: BTI) have submitted applications, and only Philip Morris' IQOS device has been approved.

There are questions about how many companies other than the industry giants will be able to comply with these regulations, as the applications for the two tobacco companies have run into the tens of thousands of pages and cost them millions of dollars to complete. It took the FDA over two years to approve Philip Morris's application; British American Tobacco's, which was submitted late last year, is still under review.

10 stocks we like better than Philip Morris International
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Philip Morris International wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of March 18, 2020

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.


Popular posts

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue