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Surgeon General Urges Tobacco-Like Cancer Warnings on Alcohol; Stocks Fall in U.S. and Europe

Jan 3, 2025, 05:52 PM

The U.S. Surgeon General, Vivek Murthy, has called for cancer warning labels to be added to alcoholic beverages in the United States, similar to those on tobacco products. Murthy highlighted that alcohol consumption is the third leading preventable cause of cancer in the country, contributing to approximately 100,000 cancer cases and 20,000 deaths annually. Despite this, less than half of Americans are aware of the link between alcohol and cancer risk. The consumption of any type of alcohol increases the risk of at least seven types of cancer, including breast, colorectal, esophageal, liver, mouth, and throat cancers. The Surgeon General's proposal would require Congressional approval, as alcohol labels in the U.S. have not been updated in decades despite new scientific evidence. Following the announcement, stocks of major alcohol producers fell in both the U.S. and Europe, with Constellation Brands—the producer of Modelo and Corona—losing about $450 million in market capitalization. Other companies such as Anheuser-Busch InBev, Brown-Forman, Diageo, Heineken, and Boston Beer Company also saw their shares decline.