Philip Morris Official Testifies in Fla. Case

The chief executive for Philip Morris USA told Florida jurors that the company is trying to keep kids from smoking and that payments under state settlements will more than double profit earned over the last 25 years.

In the punitive damages phase of a state court class-action lawsuit that could cost the tobacco industry billions of dollars, Michael Szymanczyk, chief executive of the Philip Morris Cos. unit, told the six-member jury about his company’s efforts to educate children.

Using inflation-adjusted numbers, Szymanczyk, who is also president of Philip Morris USA, said the company will make more than $93 billion in payments under settlements with the states between 1997 and 2021. The company made $40.9 billion in profit from 1972 to 1996, he said.

The six-person jury already has awarded $12.7 million in compensatory damages to three class representatives. Testimony now centers on punitive damages for the entire class of Florida smokers.

Philip Morris attorney Dan Webb has been trying to convince the jury that the company has already changed significantly and doesn’t deserve to be punished further.