Tobacco companies unlikely to shift business models despite proposed settlement: prof

Lawyers and plaintiffs speak to the media during a news conference October 18 in Montreal. Tobacco companies have offered to pay close to $25 billion in compensation to smokers and their loved ones.

But University of Toronto professor Michael Chaiton, who studies tobacco and addiction, said the agreement offers little incentive for companies to abandon tobacco products that continue to drive their profits. He said companies have marketed vaping products as a way to transition toward a "smoke-free world," but their actions haven't matched that pledge.

He said industry revenues from cigarettes have actually increased over the past decade as companies have adopted "aggressive" price increases. Now facing billions of dollars in damages, the companies are unlikely to phase out their most profitable products, said Hammond. Jacob Shelley, co-director of the Health Ethics, Law and Policy lab at Western University in London, Ont., said this case has broad implications for other industries beyond tobacco that manufacture food or beverages that can cause harm.

"If you're putting a product into the market ... you have an obligation to ensure that you warn consumers about the risks," he said.Woman dead, three others in hospital after shooting in BramptonExpelled Indian diplomat denies involvement in Sikh leader's murder, claims 'no evidence presented' India's high commissioner to Canada — who has been expelled from the country — says while the economic relationship between Canada and India will likely be preserved, the political one is now characterized by 'mistrust.

The Western Mustangs have finished second overall in the OUA Football Conference after punishing Windsor 46-5 Saturday at Alumni Stadium in London, Ont.The Forest City Film Festival begins Sunday with more than 90 films over eight days. The week will be capped off with the FCFF honouring Hollywood veteran and London native Victor Garber.To brighten your week with good news, CTV London Meteorologist Julie Atchison is showing us the sunny side of things.St.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tobacco companies to pay billions but experts say little incentive to shift away from harmful productsThree major tobacco companies in Canada will pay nearly $25 billion to settle lawsuits filed by smokers and their families. However, experts say the agreement does little to encourage them to abandon traditional tobacco products in favor of less harmful alternatives.
Source: SooToday - 🏆 8. / 85 Read more »

Tobacco companies unlikely to shift business models despite proposed settlement: profTobacco policy experts say without further pressure, major companies are unlikely to shift their business models toward less harmful alternatives despite a proposed settlement reached that would see three industry giants pay out billions to smokers and their families.
Source: CP24 - 🏆 30. / 67 Read more »