7[6/95 Final Draft Keane Presentation Pm LOGo) (SLIDE Good morning (afternoon) My name is Denise Keane and am the General Counsel Philip Morris USA for have been asked t0 speak with you today about some of the facing current regulatory and litigation issues In order lo put them our company: context, would like to briefly recap some of Ihe more dramatic activities of the past year, and then update you on the current environment; (SLIDE Photograph of Capitol) At least from the public's perspective the most dramatic Congressiona activities for the industry took lace before the House Subcommittee on Health and the Environment, formerly chaired by Henry Waxman of California.   From March through November of 1994, Congressman Waxman held 10 hearings , focusing mainly on the tobacco Industry. (SLIDE) The year began with Commissioner Kessler' s March 25 testimony, during which he explained the initial results of his investigation into the possibility that the FDA might regulate cigarettes as drugs (SLIDE) The next hearing the most famous of the year, tock place on April 14 wnen the CEO's of the seven major tobacco companies testified: The hearing lasted seven nours and included rumber of heated exchanges Here are some excerpts; (PLAY TAPE Excerpts from April 14 Hearing): The other hearings covered range of topics, including industry research , FDA regulation and allegations of nicotine "manipulation_ hearings did not have much substantive Overall; despite the media attention the Company. (SLIDE) At the end of last year; Congressman Waxman impact on tho Only ' wrapped up his tenure as Subcommittee Chairman by issuing final report: five He described pages long most of the document simply listed the events of the ycar; 2 his investigatory work as preliminary and made only few broad recommendations Much of the activity borne of last year $ ovents continues today: To give you an 0 would like tc discuss ongoing activity overview 0f the current regulatory environment; at the FDA, EPA and OSHA: 8 (SLIDE) The Food and Drug Administration or FDA respcnsible for regulating foods, drugs and cosmetics, and cigarettes have always been viewed by the FDA basically as none of the above_ In fact, in the past !hen activist groups have attempted to force the FDA to regulate cigarettes as drugs the FDA has denied or
Final Draft 7[6/95 Keane Presentation (SLIDE Pm LOGo) Good morning (afternoon) My name is Denise Keane and am the General Counsel for Philip Morris USA have been asked t0 speak with you today about some of the current regulatory and litigation issues facing our company: In order lo put them context, would like to briefly recap some of Ihe more dramatic activities of the past year, and then update you on the current environment; (SLIDE Photograph of Capitol) At least from the public's perspective the most dramatic Congressiona activities for the industry took lace before the House Subcommittee on Health and the Environment, formerly chaired by Henry Waxman of California.   From March through November of 1994, Congressman Waxman held 10 hearings , focusing mainly on the tobacco Industry. (SLIDE) The year began with Commissioner Kessler' s March 25 testimony, during which he explained the initial results of his investigation into the possibility that the FDA might regulate cigarettes as drugs (SLIDE) The next hearing the most famous of the year, tock place on April 14 wnen the CEO's of the seven major tobacco companies testified: The hearing lasted seven nours and included rumber of heated exchanges Here are some excerpts; (PLAY TAPE Excerpts from April 14 Hearing): The other hearings covered range of topics, including industry research , FDA regulation and allegations of nicotine "manipulation_ Overall; despite the media attention the hearings did not have much substantive impact on tho Company. (SLIDE) At the end of last year; Congressman Waxman wrapped up his tenure as Subcommittee Chairman by issuing final report: Only ' five pages long most of the document simply listed the events of the ycar; He described his investigatory work as preliminary and made only few broad recommendations 2 Much of the activity borne of last year $ ovents continues today: To give you an overview 0f the current regulatory environment; would like tc discuss ongoing activity at the FDA, EPA and OSHA: 0 (SLIDE) The Food and Drug Administration or FDA respcnsible for regulating 8 foods, drugs and cosmetics, and cigarettes have always been viewed by the FDA basically as none of the above_ In fact, in the past !hen activist groups have attempted to force the FDA to regulate cigarettes as drugs the FDA has denied or