CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims
November 3, 2022
Nov 2 (Reuters) - CVS Health Corp (CVS.N), Walgreens Boots Alliance Inc (WBA.O) and Walmart Inc (WMT.N) agreed to pay about $13.8 billion to resolve thousands of U.S. state and local lawsuits accusing the pharmacy chains of mishandling opioid pain drugs, potentially bringing years of litigation close to the finish line.
CVS said on Wednesday it had agreed to pay about $5 billion over 10 years, and Walgreens said that it had agreed to pay about $5.7 billion over 15 years. Neither company admitted wrongdoing. Walmart has agreed to pay $3.1 billion, mostly up front, according to two people familiar with the matter.
Paul Geller, one of the lawyers who negotiated for the governments, said that settlements with pharmacies "will bring billions of additional dollars to communities that are desperate for funds to combat the epidemic" of opioid addiction.