RICHMOND, Va. — Virginia has received over $122 million from major tobacco companies, Attorney General Jason Miyares announced on Tuesday.
Major tobacco companies including Philip Morris USA Inc, R.J. Reynolds Tobacco Company, Scandinavian Tobacco Group Lane and ITG Brands LLC, are paying the Commonwealth due to the Tobacco Master Settlement Agreement.
That agreement was finalized in 1998 after Virginia's lawsuit against the major tobacco companies for violations of consumer protection laws and deceptive marketing practices that caused damages to the state, including increased healthcare costs, Miyares' office said.
The settlement funds will go to offset the cost of healthcare due to smoke-related illnesses.
“The tobacco industry was completely reshaped by the Tobacco Master Settlement Agreement, which prioritized Virginia consumers’ safety over 25 years ago and continues to today," Miyares wrote in a news release. "Carrying out this settlement is a core function of my office and I’m proud of how we proactively protect Virginians daily."
Virginia has received $3.3 billion in payments from the agreement to date, according to Miyares' office.
