Alcohol maker stocks see declines in wake of Surgeon General cancer advisory
Popular alcohol producers had a bumpy morning as investors reacted to an advisory from the U.S. Surgeon General about alcohol and cancer.
As of early Friday afternoon, Molson Coors shares had posted a 2.86% drop from where they started trading. Anheuser-Busch Inbev has declined about 2.04%.
Those two major producers were not alone.
The stock price of Boston Beer Company, which owns Samuel Adams, Twisted Tea and other brands, has gone down 1.88%. Brown-Forman, known for brands like Jack Daniel's and Woodford Reserve, fell about 1.26%.
Constellation Brands was hovering at $220.54, 0.93% lower than it started the day.
That came in the wake of Surgeon General Dr. Vivek Murthy’s advisory about a "direct link" between alcohol and heightened cancer risk.
ALCOHOL LINKED TO CANCER RISK IN US SURGEON GENERAL'S NEW ADVISORY
The advisory, published Friday morning, said that alcohol consumption is the "third-leading preventable cause of cancer in the United States."
Scientific evidence shows a "causal relationship between alcohol use and increased risk for at least seven different types of cancer, including breast (in women), colorectum, esophagus, liver, mouth (oral cavity), throat (pharynx), and voice box (larynx)," the advisory also said.
Murthy proposed several actions that he said could help "begin reducing alcohol-related cancers" in America. They include adding a warning about cancer risk to the Surgeon General’s warning label on alcohol, boosting education about the risk and reassessing "recommended limits for alcohol consumption," according to the advisory.
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The current required Surgeon General’s label says, "GOVERNMENT WARNING: (1) According to the Surgeon General, women should not drink alcoholic beverages during pregnancy because of the risk of birth defects. (2) Consumption of alcoholic beverages impairs your ability to drive a car or operate machinery, and may cause health problems."
The authority to make updates that label lies with Congress.
"This Advisory lays out steps we can all take to increase awareness of alcohol’s cancer risk and minimize harm," Murthy said in a statement.
About 45% of Americans had knowledge of alcohol having a cancer risk, the advisory said.
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Gallup reported in August that among Americans who drink alcohol, 34% said they "most often" consume beer. Meanwhile, one-third reported favoring wine.
About 29% of alcohol-drinking Americans reported that liquor is what they drink most often, according to Gallup.
Fox News Digital’s Melissa Rudy contributed to this report.