Tobacco companies unlikely to shift business models despite proposed settlement: prof [Yahoo! Finance Canada]
JAPAN TOBACCO UNSP/ADR (JAPAY)
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Source: Yahoo! Finance Canada
Under a newly proposed deal filed in court on Thursday, JTI-Macdonald Corp., Rothmans, Benson & Hedges, and Imperial Tobacco Canada Ltd. would pay nearly $25 billion to provincial and territorial governments. More than $4 billion would go to Quebec class-action members and another $2.5 billion would be paid to smokers in other provinces and territories who were diagnosed with lung cancer, throat cancer or chronic obstructive pulmonary disease between March 2015 and March 2019. But University of Toronto professor Michael Chaiton, who studies tobacco and addiction, says the agreement offers little incentive for companies to abandon tobacco products that continue to drive their profits. He says major industry players have maintained a willingness in recent years to promote tobacco-based products and fight proposed regulations that would curb their use, despite offering alternatives such as e-cigarettes. The three companies sought creditor protection in Ontario in 2019 after Queb
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