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Shares of tobacco companies were seemingly unaffected by the announcement, with Philip Morris stock flat in premarket trading and shares of British American Tobacco up slightly despite a drop in the broader market

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A study examining tobacco prices from 2015 to 2018 found that the MET was successful in increasing budget FMC prices and reducing dispersion within the FMC market itself, but the targeted taxes did not reduce dispersion between FMC and RYO products

Meanwhile, Juul and Vuses Alto device remain under review, and many observers suspect the FDA is evaluating the PMTAs of the largest companies in the order in which they were received