Shares of Spirit companies plunged Friday after the U.S. Surgeon General recommended that alcohol be labeled with cancer warning labels similar to those on tobacco products.
Boston Beer Company, known for products such as Angry Orchard, Truly Hard Seltzer, Samuel Adams and Twisted Tea, measured a downward spiral of 3.83 percent.
Molson Coors, the Canadian-American brewer behind brands such as Miller Lite and Coors Light, saw its stock price fall 3.3%, while Jack Daniel's whiskey maker saw its trading value drop 2.5%.
European spirits company Diageo also received a 3.7% increase after US Surgeon General Vivek Murthy said in a statement that alcohol consumption is the third leading cause of preventable cancer in the US after tobacco and obesity. It fell. He warned that it could increase the risk of at least seven types of cancer that affect the breast, colorectal, esophagus, liver, mouth (oral cavity), throat (pharynx), and voice box (larynx).
He added that no risks are associated with certain types of alcohol, such as beer, wine and liqueurs.
“Alcohol is a well-established and preventable cause of cancer, accounting for approximately 100,000 cancer cases and 20,000 cancer deaths annually in the United States; “More than 13,500 people die in traffic accidents, yet the majority of Americans are unaware of this risk,” the Surgeon General said. stated in a statement.
He noted that approximately 100,000 people in the United States develop alcohol-related cancers and approximately 20,000 people die from alcohol-related cancers each year.
“This advisory raises awareness of the cancer risks of alcohol and sets out steps we can all take to minimize harm,” Murthy added.
It is unclear whether companies will be required to adopt the proposed warnings, as the decision to require such labels is up to Congress.
