Update: Alcohol Beverage Stocks Fall After US Surgeon General Calls for Cancer Warnings on Alcoholic Drinks

MT Newswires Live01-07 02:27

(Updates with statement from a spokesperson at the Beer Institute in the fifth paragraph.)

Shares of alcohol beverage makers including Anheuser-Busch InBev (BUD) and Diageo (DEO) were down Friday morning after US Surgeon General Vivek Murthy released an advisory outlining the direct link between alcohol consumption and an increased risk of cancer and called for cancer warnings on alcoholic drinks.

As part of the new advisory, the surgeon general is recommending updating health warning labels on alcoholic beverages as well as reassessing guideline limits on alcohol consumption to account for cancer risk.

DEO shares were down 3.6%, BUD and Molson Coors Beverage (TAP) were more than 2% lower, Constellation Brands (STZ) was off over 1% and Brown-Forman (BF.A, BF.B) shares were down less than 1% in recent trading.

Anheuser-Busch didn't comment on the surgeon general's statement when contacted by MT Newswires, but recommended contacting beer industry trade group Beer Institute.

"The US beer industry has been a champion of responsible consumption for decades," a spokesperson at the Beer Institute said in a statement emailed to MT Newswires. "We encourage adults of legal drinking age to make choices that best fit their personal circumstances, and if they choose to drink, to consume alcohol beverages in moderation."

The other companies didn't immediately respond to requests for comment from MT Newswires.

Price: 49.43, Change: +0.58, Percent Change: +1.19

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