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FDA Head Scott Gottlieb's Exit Sends Tobacco Stocks Higher

Tony Owusu

In a move that has the tobacco industry breathing easier, U.S. Food and Drug Administration Commissioner Scott Gottlieb, a vocal critic of the vaping industry's influence on teen users, is leaving his post. The Department of Health and Human Service said Tuesday that Gottlieb will step down to spend more time with his family -- news that sent tobacco stocks higher. jumped by about 1.5% as soon as news of Gottlieb's departure broke at about 3 p.m. ET, although MO later dropped back to close at $52.88, +0.8% on the day.