Philip Morris USA Makes Master Settlement Payment Of Approximately $3.3 Billion

Philip Morris USA (PM USA) today made its annual Master Settlement Agreement (MSA) payment. This year’s payment is approximately $3.3 billion, net of various items related to the Non-Participating Manufacturer adjustment disputes.

Since signing the tobacco settlement agreements, PM USA has paid the states more than $66 billion.

MSA payments provide states valuable resources to fund tobacco cessation and underage tobacco use prevention programs. For years, PM USA has encouraged the states to use MSA payments to fund these programs at levels recommended by the Centers for Disease Control. PM USA continues to support using these funds for these purposes.

A portion of PM USA’s MSA payment is being deposited into the Disputed Payments Account, in accordance with the terms of the MSA and calculations made by the independent auditor.

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Copyright Business Wire 2010

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