Lorillard Responds to Proposed FDA Deeming Regulations for Electronic Cigarettes Company is Encouraged Proposed e-Cigarette Regulations Reflect Potential for Reduced Harm
GREENSBORO, N.C., April 24, 2014 /PRNewswire/ -- Lorillard, Inc. (NYSE: LO), the third largest tobacco company in the United States and owner of blu eCigs, the leading U.S. electronic cigarette company, responded to proposed regulations published today by the U.S. Food and Drug Administration (FDA) regarding the electronic cigarette industry.
Lorillard applauds the Agency's initial efforts to establish a reasonable regulatory framework for the electronic cigarette category. Lorillard has long-supported reasonable science-based regulation of electronic cigarettes such as establishing minimum age-of-purchase requirements, setting product quality and safety standards, and listing of ingredients and other relevant consumer information. In fact, while waiting for FDA guidance, blu eCigs has implemented meaningful measures to limit access of individuals under age 18 to blu eCigs' advertising and promotional activities and to prevent minors from purchasing blu eCigs' products.
"It appears that the FDA is taking a science-based approach, and that the proposed rule itself defines a constructive process that recognizes that e-cigarettes are different than combustible cigarettes. Despite what I am sure will be a robust give-and-take process over the comings months, we remain committed to our belief that electronic cigarettes represent a major opportunity to align the interests of business and public health. We look forward to working collaboratively with the FDA through the notice-and-comment rulemaking process to devise a reasonable, scientifically-based regulatory framework covering e-cigarettes," stated Murray S. Kessler, Chairman, President and CEO of Lorillard, Inc.
About Lorillard, Inc.
Lorillard, Inc. (NYSE: LO), through its Lorillard Tobacco Company subsidiary, is the third largest manufacturer of cigarettes in the United States. Founded in 1760, Lorillard Tobacco is the oldest continuously operating tobacco company in the U.S. Newport, Lorillard's flagship premium cigarette brand, is the top selling menthol and second largest selling cigarette in the U.S. In addition to Newport, the Lorillard product line has four additional cigarette brand families marketed under the Kent, True, Maverick and Old Gold brand names. These five brands include 43 different product offerings which vary in price, taste, flavor, length and packaging. Lorillard, Inc., through its other subsidiaries, is also a leading global electronic cigarette company, marketed under the blu eCigs and SKYCIG brands. Newport, Kent, True, Maverick, Old Gold, blu eCigs and SKYCIG are the registered trademarks of Lorillard and its subsidiaries. Lorillard maintains its corporate headquarters and manufactures all of its traditional cigarette products in Greensboro, North Carolina.
About blu eCigs Electronic Cigarettes
blu eCigs® electronic cigarettes offer the experience of traditional cigarettes – without the tobacco smoke, ash, or smell. Because they mimic the physical act of smoking, blu eCigs offer the first realistic alternative to combustible tobacco cigarettes, creating a vapor "puff" that evaporates within seconds. blu eCigs' lifestyle-driven design and innovative technology enhance the experience for e-cigarette consumers. A proven consumer choice in the US market, blu eCigs have been featured at high-profile awards shows, motorsports events, major music festivals, and more, and are used by A-list actors, musicians, and other celebrities around the world. Available online and at retailers nationwide, blu eCigs come in convenient disposables or rechargeable packs for regular use, with or without nicotine, and in a variety of flavors. Based in Charlotte, NC, the company is a subsidiary of Lorillard, Inc. For more, visit www.blucigs.com.
Certain statements made in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "may," "will be," "will continue," "will likely result" and similar expressions. In addition, any statement that may be provided by management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects and possible actions by Lorillard, Inc. are also forward-looking statements as defined by the Reform Act.
Forward-looking statements are based on current expectations and projections about future events and are inherently subject to a variety of risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those anticipated or projected. Information describing factors that could cause actual results to differ materially from those in forward-looking statements is available in Lorillard, Inc.'s filings with the Securities and Exchange Commission (the "SEC"), including but not limited to, our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These filings are available from the SEC over the Internet or in hard copy, and are available on our website at www.lorillard.com. Forward-looking statements speak only as of the time they are made, and we expressly disclaim any obligation or undertaking to update these statements to reflect any change in expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.
SOURCE Lorillard, Inc.