WASHINGTON -- The U.S. Food and Drug Administration (FDA) aims to reduce nicotine levels in cigarettes while exploring measures to shift smokers toward e-cigarettes in a major new regulatory program announced by FDA Commissioner Scott Gottlieb on July 28.
The FDA said it would extend the timeline for newly regulated products, including e-cigarettes, to submit applications for approval and allow existing products that were on the market as of Aug. 8, 2016, to remain on the market, a boon for e-cigarette manufacturers.
The news sent stocks of combustible-cigarette companies plunging, according to a Reuters report.
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