Shares of the brewer see a drop due to the surgeon general’s cancer advice
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Major brewers were struggling this morning as investors reacted to advice from the US Surgeon General about alcohol and cancer.
As of early Friday afternoon, shares of Molson Coors have posted a 2.86% drop from their opening session. Anheuser-Busch Inbev was down about 2.04%.
Coors Light is giving fans a chance to get on their Chill Train during a Super Bowl commercial. (Alex Flynn/Bloomberg via Getty Images/Getty Images)
Those two great producers were not alone.
The stock price of Boston Beer Company, which owns Samuel Adams, Twisted Tea and other brands, fell 1.88%. Brown-Forman, known for brands such as Jack Daniel’s and Woodford Reserve, fell about 1.26%.
Jack Daniels Tennessee Whiskey on display at The 6th Annual Fillies & Stallions Kentucky Derby party, hosted by Black Rock Thoroughbreds, along with Tito’s Vodka, Jack Daniel’s and Red Bull on May 6, 2016, in Louisville, Kentucky. (Photo by Robin Marchant/Getty Images for Ark Endeavors) / Getty Images)
Constellation Brands was hovering at $220.54, down 0.93% from where it started the day.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| TAP | MOLSON COORS BEVERAGE CO. | 55.13 | -2.06 |
-3.61% |
| BUD | ANHEUSER-BUSCH INBEV | 49.93 | -0.14 |
-0.28% |
| Sam | Boston Beer Co. INC. | 292.01 | -9.25 |
-3.07% |
| BF.B | BROWN-FORMAN CORP. | 37.18 | -0.80 |
-2.11% |
| STZ | Company CONSTELLATION BRANDS INC. | 222.57 | +1.57 |
+0.71% |
That happened after the advice of the Chief Surgeon Dr. Vivek Murthy on the “direct link” between alcohol and the increased risk of cancer.
ALCOHOL LINKED TO DRUG RISK IN US NEW ADVICE FROM DOCTOR GENERAL
The advisory, published Friday morning, said alcohol consumption is “the third leading cause of cancer in the United States.”
Scientific evidence shows “a causal relationship between alcohol use and an increased risk of at least seven different types of cancer, including breast (in women), colorectum, esophagus, liver, mouth (oral cavity), throat (pharynx), and voice box ( larynx),” said the consultant.
Murthy proposed several actions that he said would help “start reducing alcohol-related cancers” in America. They include adding a warning about cancer risk to the Surgeon General’s alcohol warning label, increasing education about the risk and reevaluating “recommended limits for alcohol consumption,” according to the advisory.
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The Doctor General label that is currently required says, “GOVERNMENT WARNING: (1) According to the Doctor General, women should not drink alcohol during pregnancy because of the risk of giving birth to colds. (2) Drinking alcohol impairs your ability to drive a car or operate machinery, and may cause health problems. “
The authority to make revisions to the labels rests with Congress.
“This Advisory sets out steps we can all take to raise awareness of the risk of alcohol-related cancer and reduce harm,” Murthy said in a statement.
Large selection of cocktails and bottled alcohol at the bar. (Godong Group/Universal Images via Getty Images / Getty Images)
About 45% of Americans had knowledge of alcohol’s risk of cancer, the advisory said.
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Gallup reported in August that of Americans who drink alcohol, 34% say they “often” consume beer. Meanwhile, one-third reported liking wine.
About 29% of Americans who drink alcohol report that alcohol is their heaviest drink, according to Gallup.
Melissa Rudy of Fox News Digital contributed to this report.
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