Spirit companies saw stock prices plummet Friday after the U.S. surgeon general recommended cancer warning labels, similar to those found on tobacco products, be added to alcohol.
This from thehill.com.
Boston Beer Company—known for products such as Angry Orchard, Truly Hard Seltzer, Samuel Adams and Twisted Tea—measured a 3.83 percent downward spiral.
The European spirit company Diageo also experienced a 3.7 drop after U.S. Surgeon General Vivek Murthy said in a statement:
[A]lcohol consumption marks the third-leading preventable cause of cancer in the U.S., following tobacco and obesity.
Further:
He warned that it can increase the risk for at least
seven types of cancer impacting the breast,
colorectum, esophagus, liver, mouth (oral cavity),
throat (pharynx), and voice box (larynx).
And:
Risk is not associated with a particular type of alcohol, such as beer, wine or liquor.
The surgeon general said in the statement:
Alcohol is a well-established, preventable cause of cancer responsible for about 100,000 cases of cancer and 20,000 cancer deaths annually in the United States—greater than the 13,500 alcohol-associated traffic crash fatalities per year in the U.S.—yet the majority of Americans are unaware of this risk.
Murthy added:
This Advisory lays out steps we can all take to increase awareness of alcohol’s cancer risk and minimize harm.
