Philip Morris USA (PM) and other cigarette manufacturers have reached an agreement with nineteen...

|About: Philip Morris International... (PM)|By:, SA News Editor

Philip Morris USA (PM) and other cigarette manufacturers have reached an agreement with nineteen states to resolve long-standing disputes related to the Non-Participating Manufacturer adjustment provisions of the Master Settlement Agreement. The agreement includes a release to the joining states of their portion of more than $4B from disputed payment accounts. In return, the manufacturers will receive credits against the joining states' portion of future MSA payments. Based on current assumptions, PM will receive 28% of the credits, or approximately $450M.