Philip Morris USA Makes About $4B Tobacco Payment

Source from:  The Associated Press 04/16/2009

Philip Morris USA says it has made its payment as part of an agreement in which some cigarette makers pay the states for smoking-related health care costs. The nation's No. 1 cigarette maker and operating company of Altria Group said it made its full annual payment of about $4 billion as part of the 1998 Master Settlement Agreement. The Richmond-based maker of Marlboro, Virginia Slims and Parliament cigarettes says it has paid more than $47 billion under the settlement and previous agreements since 1997. As part of the landmark settlement to reimburse states for smoking-related health care costs, tobacco companies agreed to make about $206 billion in annual payments over more than two decades. Enditem