Philip Morris Makes Master Settlement Agreement Payment of Approximately $3.5B

Philip Morris USA PM today made its annual Master Settlement Agreement payment of approximately $3.5 billion. This amount includes approximately $267 million that PM USA disputes it owes as a result of the 2008 Non-Participating Manufacturer Adjustment. As permitted by the terms of the MSA, PM USA paid the disputed amount into a Disputed Payments Account pending final resolution of the 2008 NPM Adjustment dispute.