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  • FDA starts collecting fees from tobacco companies

    10/04/2009 5:34:50 PM PDT · by smokingfrog · 13 replies · 743+ views
    Business Week ^ | Oct. 1, 2009 | MICHAEL FELBERBAUM
    The Food and Drug Administration on Thursday began collecting millions in fees from the nation's tobacco companies to help fund the agency's newly granted authority to regulate the industry. The user fees, which will be collected quarterly, are based on each company's share of the U.S. tobacco market. The FDA will collect about $23 million for fiscal 2009. That will rise to $235 million in 2010 and grow to $712 million by 2019. The FDA would not disclose the assessments for specific companies. Stifel, Nicolaus & Co. analyst Christopher Growe said in a note to investors that Richmond, Va.-based Altria...