CVS Health agrees to a $5 billion settlement in opioid lawsuits
Two of the largest U.S. pharmacy chains, CVS Health and Walgreen Co., announced agreements in principle Wednesday to pay about $5 billion each to settle lawsuits nationwide over the toll of opioids, and a lawyer said Walmart is in discussions for a deal.
In a conference call with analysts Wednesday, CVS Health CEO Karen Lynch said the deal sprang from mediation discussions that started last month. "We are pleased to resolve these longstanding claims and putting them behind us is in the best interest of all parties, as well as our customers, colleagues and shareholders," Thomas Moriarty, CVS chief policy officer and general counsel, said in a statement."We are committed to working with states, municipalities and tribes, and will continue our own important initiatives to help reduce the illegitimate use of prescription opioids.
The proposed pacts bring a nationwide tally of finalized and completed settlements between companies and governments to more than $50 billion.
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