Surgeon General Vivek Murthy's call for alcohol producers to include cancer warnings on their products has generated considerable public attention.
According to a statement from Murthy's office, "Alcohol consumption is the third leading preventable cause of cancer in the United States, following tobacco and obesity," emphasizing that the specific type of alcohol is irrelevant.
Stock Market Reaction
In early trading, shares of Brown-Forman, the parent company of Jack Daniel’s, fell nearly 3 percent to $37.10, marking their lowest point since April 2017. Similarly, Molson Coors, the producer of Coors Light, saw a decline of 2.7 percent.
Constellation Brands, known for Corona beer, experienced a 1.3 percent drop, while Boston Beer shares decreased by 3 percent, having previously fallen as much as 6.4 percent.
In Europe, Diageo, the leading global spirits manufacturer, saw its shares decline by 3.7 percent to their lowest level since mid-December, after an earlier drop of 4.1 percent. French company Pernod Ricard, which produces Martell cognac, Mumm champagne, and Absolut vodka, also experienced a decline of around 3 percent, while competitors Remy and Campari both fell by at least 4.5 percent.
Future of the Advisory
It remains uncertain whether the Surgeon General's advisory will lead to concrete actions. Additionally, with the Biden administration nearing its end, Murthy may be succeeded by Janette Nesheiwat, a director of a New York urgent care clinic and a nominee from President-elect Donald Trump.
Trump, whose brother struggled with alcoholism, has been vocal about the dangers of alcohol. Robert F. Kennedy Jr., Trump's choice for Secretary of Health and Human Services, has openly discussed his own battles with substance abuse and regularly attends Alcoholics Anonymous meetings.