The webcast will provide live audio of the entire PMI session and will be in a listen-only mode. An archived copy of the webcast will be available until 5:00 p.m. ET on Friday, June 11, 2010 at www.pmi.com.
Highlights - PMI q1 2010 earnings...
Reference: Philip Morris International Inc. to Host Webcast of Presentation at Goldman Sachs Consumer Products Symposium, SOURCE: Philip Morris International, Inc., Business Wire, 5/6/2010.
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PMI - webcast May 13th - Goldman Sachs Consumer Products Symposium..
Philip Morris USA to raise prices by 8 cents/pack on most cigarette brands.
May 7, 2010 - Altria Group Inc.'s Philip Morris USA (PM USA) division is raising prices for Marlboro and most of its other cigarette brands by 8 cents a pack.
The price increase will be effective Monday, May 10th a spokesman said. The list price for Marlboro, or the price the company sells the cigarettes to its wholesalers for, will go up to $3.70 a pack from $3.62 a pack.
Cigarette companies in the U.S. have raised prices fairly steadily in recent years. The higher prices have helped shore up profits at a time when volumes have been under pressure as Americans smoke fewer cigarettes. Bans on smoking in public places and higher taxes have contributed to a decline in cigarette volumes.
Stifel Nicolaus analyst Chris Growe said the latest price increase from Altria was higher than he had expected.
(Above entire article from the Wall Street Journal..)
Highlights - Altria Group, q1 2010 earnings conference call..
Reference: Altria Raising Cigarette Prices By 8c A Pack by Anjali Cordeiro (anjali.cordeiro@dowjones.com), Dow Jones Newswires; 5/6/2010.
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Lorillard , Inc. - to participate in the Goldman Sachs Consumer Products Symposium on Thursday, May 13, 2010..
May 7, 2010 - Lorillard, Inc., the third largest manufacturer of cigarettes in the United States, has announced that Martin L. Orlowsky, Chairman, President and Chief Executive Officer, and David H. Taylor, Chief Financial Officer, will participate in the Goldman Sachs Consumer Products Symposium at the Goldman Sachs Conference Center in New York. Lorillard will present on Thursday, May 13, 2010, at 10:25 A.M. Eastern.
The presentation will be broadcast live over the Internet under the Investor Relations section of Lorillard's website at www.lorillard.com and will also be available in an archived format for thirty days following the event.
Lorillard - highlights q1 2010 earnings..
Reference:
Lorillard to Participate in the Goldman Sachs Consumer Products Symposium on Thursday, May 13, 2010, PRNewswire, 5/4/2010.
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Kenya - BAT trying to find ways to circumvent law that outlaws promotion of tobacco products..
The State agency says the cover violates the law barring promotion of cigarettes. The crop policy developed by UAP Insurance in partnership with Chancery Wright was recently introduced to farmers in Western Province.
BAT has, however, refuted the claims instead asking the board to allow the industry to engage its partners and contribute to their welfare.
“The crop insurance cover, similarly, has no relation to our cigarette brands. It is important that the regulator understands the difference between the corporate entity and the brands,” said Ms Julie Adell-Owino, head of corporate and regulatory affairs, for BAT Kenya.
The Kenya Tobacco Contrl Board, through its chairman Prof Peter Odhiambo, said the product is a violation of the Act and the two firms are liable for punishment. “It is a trickery; UAP is being used by the cigarette company to put a human face on the robbery. The Act prohibits any kind of promotion and by this the manufacturer is violating the law,” Prof Odhiambo told journalists in Nairobi on Wednesday.
“The crop insurance cover does not in any way contravene the tobacco control act and has no relation to our cigarette brands,” noted Ms Adell-Owino.
Already, about 1,000 farmers contracted by the multi-nationals have signed up for the product, most being from Western, Nyanza and Eastern provinces.
“The product allows the promotion of tobacco product and is also meant to create a brand recognition for BAT. This is against the Act and we are going to take punitive measures against them,” said Prof Odhiambo.
In 2008, the government enacted an anti-tobacco law which among other things outlawed smoking in public as well as promoting of tobacco and its by products.
“We believe that tobacco farming is a legal practice and have seen no reason why we could not as a responsible insurer help farmers by alleviating their crop losses” said Mr James Wambugu managing director UAP Insurance.
Reference: Board raises smoke over tobacco cover by JOSEPH BONYO, Daily Nation, 5/5/2010.
Related news briefs:
Kenya - educate public on harmful effects of smoking and enforce provisions of tobacco control act..
Kenya - public health officers will be involved in enforcement of smoking regulations..;
Kenya - smoking ban must be enforced - it's the law..;
Kenya - BAT declines to support charities - tobacco control laws..;
Kenya - discrepancies between local smoke-free regulations and Tobacco Control Act..;
Smoking ban starts in Nairobi, the capital of Kenya..;
British American Tobacco (BAT) - 100 years in Africa..
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African-American infants at increased risk from tobacco smoke exposure..
The findings were presented at noon ET Saturday, May 1, at the annual meeting of the Pediatric Academic Societies in Vancouver, Canada.
PAPER: Racial Differences in Developmental Outcomes Associated with Prenatal Exposure to Tobacco Smoke Kimberly Yolton, Jane Khoury, Yingying Xu, Paul Succop, Bruce Lanphear. Pediatrics, Cincinnati Children's Hospital, Cincinnati, OH; Environmental Health, University of Cincinnati, Cincinnati, OH; Health Sciences, Simon Frasier University, Vancouver, BC, Canada, Platform Session: Environmental Health, 5/1/2010, ABSTRACT..
Prenatal exposure to tobacco smoke has already been linked to prematurity and cognitive defects in young children. Previous research has also shown racial differences in metabolism of nicotine among adolescents, adults, and pregnant women.
The current study focused on the developmental differences between 242 white and black children at 1 and 2 years of age. The study was limited to children whose mothers had measureable levels of cotinine – a biological byproduct of nicotine – in their blood during pregnancy.
"We found that low-level prenatal tobacco exposure was associated with deficits in both motor and cognitive development, but only for black children," said Kimberly Yolton, Ph.D., a developmental psychologist in the division of General and Community Pediatrics at Cincinnati Children's and lead investigator on the study.
The children were assessed for cognitive and motor development using The Bayley Scales of Infant Development (Second Edition). Although the researchers found no statistically significant association between prenatal tobacco exposures and lower scores in white children, Dr. Yolton stressed expectant white mothers should still refrain from smoking.
"All women should be aware of the dangers of tobacco smoke to themselves and their developing babies, but our research suggests African American women should be particularly careful during pregnancy," Dr. Yolton said.
Interestingly, although only 30 percent of mothers in the study reported any exposure to tobacco smoke – either by smoking themselves or through second-hand exposure – all had measurable cotinine levels in their blood. Dr. Yolton said this indicates expectant mothers and their children may be at risk of exposure even when they don't realize it.
"And when pregnant mothers do smoke, the nicotine easily passes through the placenta to the developing baby, and nicotine concentrations are 15 times higher in the baby's blood than the mother's," she added.
Dr. Yolton said future research efforts are aimed at better understanding the metabolic and molecular reasons for tobacco smoke's harmful affects on infants and children as well as the racial disparities associated with exposure.
Reference: African-American infants at increased risk from tobacco smoke exposure, Contact: Nick Miller (nicholas.miller@cchmc.org), Cincinnati Children's Hospital Medical Center
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