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Article: Philip Morris USA Makes its Full Master Settlement Agreement Payment of $3.5 billion.
- Article from:
- Business Wire
- Article date:
- March 30, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RICHMOND, Va. -- Today, Philip Morris USA (PM USA) made its full annual Master Settlement Agreement (MSA) payment of $3.5 billion. This amount includes approximately $400 million that PM USA disputes it owes as a result of the 2004 Non-Participating Manufacturer (NPM) adjustment.
As it did last year with respect to the 2003 NPM adjustment, PM USA has elected to pay the disputed money to the states, although it had the right under the Master Settlement Agreement to put the disputed money into the Disputed Payments Account.
"Philip Morris USA hopes that its gesture will facilitate an expeditious resolution of the Non-Participating Manufacturer adjustment ...