Philip Morris USA yesterday made its annual Master Settlement Agreement (MSA) payment, which this year amounts to about $3.5 billion, after adjusting for various items related to the Non-Participating Manufacturer adjustment disputes.
‘Since signing the tobacco settlement agreements in 1997 and 1998, PM USA has paid the states more than $70 billion,’ the company said in a statement posted on the website of its parent company, Altria.
‘MSA payments provide states valuable resources to fund tobacco cessation and underage tobacco prevention programs.
‘PM USA believes states should use MSA payments to fund these programs at levels recommended by the Centers for Disease Control.’
PM USA said it had deposited a portion of yesterday’s payment into the Disputed Payments Account, in accordance with the terms of the MSA and calculations made by the independent auditor.