PUFF MAGIC SAGGIN’

Nicotine cuts eyed

Nicotine addicts beware: Cigarettes may soon pack less of a punch.

The Food and Drug Administration announced Friday that it is looking to slash the level of nicotine in cigarettes to non-addictive levels to prevent smoking-related diseases and deaths. To cut the health risks of the drug, the FDA is also exploring the use of non-combustible nicotine products like e-cigarettes and patches.

Nicotine “is most harmful when delivered through smoke particles in combustible cigarettes,” the FDA said in a statement.

Friday’s announcement sent shock waves through the industry, as investors rushed to sell their cigarette stocks. In the process, Big Tobacco shed as much as $60 billion in market capitalization.

Marlboro maker Altria Group’s shares plunged 17.3 percent moments after the FDA’s announcement, while British American Tobacco, the manufactuer of Camel, saw its shares tumble 13 percent in early morning trades.

“Concern among investors is clear and not misplaced if the strictest reading of this announcement proves accurate,” Cowan analyst Vivien Azer said in a note Friday.

On the other hand, “there are questions around whether there is even sound scientific evidence to support the notion that reducing nicotine levels in cigarettes would actually reduce population risk,” Azer wrote.

Some nicotine fiends, for example, may simply smoke more to get their fixes, the analyst noted.

The FDA is hoping that smokers who are unable to quit will eventually move to non-combustible tobacco products, which so far seem to carry fewer health risks.

“We need to make sure we strike the right balance between FDA fulfilling its vital consumer protection role while also fostering innovation when it comes to potentially less harmful forms of nicotine delivery,” FDA Commissioner Scott Gottlieb said at a press conference Friday.

Prior to joining the FDA in May, Gottlieb, a trained physician, served on the board of ecigarette retailer Kure Corp.

While cigarette companies mourned the announcement — Altria closed at $66.94, down 9.5 percent, and British American Tobacco ended the day down 7 percent to $64.93 — e-cigarette startups rejoiced.

“As you can imagine, I’m thrilled,” Douglas Teitelbaum, CEO of NJOY, told The Post.