Friday, March 30, 2007

Philip Morris makes full $3.5 bln states payment

(Reuters) - Tobacco manufacturers can reduce their payments if they lose market share to companies that do not participate in the agreement and if an independent consultant determines that the agreement contributed to the loss, among other factors.

Philip Morris paid the full amount, even though it disputes that it owes about $400 million of the total as a result of the 2004 Non-Participating Manufacturer adjustment.


Read more at Reuters.com Government Filings News

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