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ASH Daily News

Wednesday 18 October 2000

Headlines
US pension fund divests tobacco stock
Philip Morris earnings increased in 3rd quarter
Pharmacists to be paid to help smokers quit


Full Text

US pension fund divests tobacco stock

The board of the California Public Employees' Retirement Scheme (Calpers),
America's largest public pension fund, has voted to divest itself of its
tobacco holdings, citing the legal liabilities the industry faces. Calpers
said the decision, which passed by a vote of 7 to 5, with one abstention,
affects about $525 million in tobacco company stock. Calpers said the
decision was made with financial, rather than social, considerations in
mind.

Source: Wall Street Journal Europe, 18/10/00



Philip Morris earnings increased in 3rd quarter

Philip Morris reported a 6.7% rise in underlying third quarter earnings, the
company reported yesterday. Profits rose to $2.24bn, from $2.10 bn, a year
earlier. The results exclude a pre-tax $139m impact from the sale of a
French confectionery business and $144m in charges related to its domestic
and international tobacco businesses. The growth was driven by higher
pricing in its tobacco businesses which took further market share from
rivals such as Brown and Williamson and RJ Reynolds. Analysts said Marlboro
continued to attract a higher proportion of new smokers and that young
smokers showed little resistance to increased pricing.

Source: Wall Street Journal Europe, Financial Times, 18/10/0



Pharmacists to be paid to help smokers quit

Community pharmacists in Kent are to be paid for providing smoking cessation
advice as part of a three-stage £175,000 scheme. They are the first group
of health professionals to receive additional training to help patients give
up smoking. GPs, dentists, health visitors and practice nurses are not due
to receive similar training until the New year. About 30 pharmacies have
attended the first training session to encourage them to offer opportunistic
advice to patients. Stage two of the campaign will be three counselling
sessions on a one-to-one basis. The pharmacists will receive a £15
consultation fee if the patient attends all three sessions or £5 if they
attend only one. Smoking cessation workgroups run over seven weeks, are the
third stage of support offered to patients.

Source: Chemist & Druggist, 14/10/00