Lorillard Waiting On FDA Panel

Source from:  Benzinga 10/13/2010

Goldman Sachs has published a research report on Lorillard, Inc. (NYSE: LO) in anticipation of the FDA Tobacco Products Scientific Advisory Committee (TPSAC) publishing of subcommittee issues in March 2011. In the report, Goldman Sachs writes "It appears increasingly unlikely that an outsized negative report on menthol will occur when the FDA Tobacco Products Scientific Advisory Committee's (TPSAC) menthol report subcommittee issues its report in March 2011. That was our major takeaway from the October 7th meeting of the subcommittee. The committee has expressed an increased concern that there is insufficient time and limited conclusive research to write as comprehensive a report as they would normally prefer. We believe it is increasingly unlikely that an oversized negative report on menthol, such as recommending a ban, will occur. The likelihood of FDA implementation of an outsized negative regulation on menthol is even less likely." Goldman Sachs maintains its Buy rating on Lorillard, which closed Friday at $79.97. Enditem