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Philip Morris apologizes
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July 26, 2001: 11:45 a.m. ET
Cigarette maker regrets study showing 'positive effects' of early deaths
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NEW YORK (CNNfn) - Cigarette maker Philip Morris Cos. made an official apology for a widely criticized company-funded study that stated the early deaths of smokers is one of the "positive effects" of cigarette consumption.
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For one of our tobacco companies to commission this study was not just a terrible mistake, it was wrong.
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Geoffrey Bible
Chairman & CEO, Philip Morris |
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The Czech Republic unit of Philip Morris distributed an economic analysis last month that concluded cigarettes are not a drain on the country's budget, in part because the Czech government saves money on health care, pensions and housing when smokers die prematurely.
"For one of our tobacco companies to commission this study was not just a terrible mistake, it was wrong," company CEO Geoffrey Bible said in a letter responding to U.S. Senator Dianne Feinstein. "I sincerely regret this extraordinarily unfortunate incident."
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The California Democrat wrote to Bible after reading about the report. In her letter, she said Philip Morris apparently has not learned its lesson after fighting a losing battle in the U.S.
"By including a cost-benefit analysis of human lives in its calculations, Philip Morris has stepped well past the lines of decency," Feinstein wrote.
The incident has hurt the company's attempts to burnish its reputation. Philip Morris has spent $100 million annually for positive advertising, donations and shelters for battered women to persuade the public it has changed its ways.
New York-based Philip Morris (MO: down $1.14 to $43.54, Research, Estimates) reportedly has canceled its plans for similar studies in Poland, Slovakia Hungary and Slovenia. 
-- from staff and wire reports
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