JUST IN: CVS Health agrees to $5 billion settlement of opioid lawsuits -
Together, the developments amount to what could be the last round of huge settlements after years of litigation over the drug industry’s role in an overdose epidemic that has been linked to more than 500,000 deaths in the U.S. over the past two decades.
Under the tentative plans, CVS would pay $4.9 billion to local governments and about $130 million to Native American tribes over a decade. Walgreens would pay $4.8 billion to governments and $155 million to tribes over 15 years. The exact amount depends on how many governments join the deals. CVS has launched educational programs and installed safe disposal units for drugs in stores and police departments, among other measures designed to reduce misuse of opioids.Representatives from Walmart did not immediately return calls Wednesday, but Paul Geller, a lawyer for governments in the lawsuits, said talks are continuing with the company.
Opioids have been linked to more than 500,000 deaths in the U.S. over the past two decades. Most of the deaths initially involved prescription drugs. As governments, doctors and companies took steps to make them harder to abuse and obtain, people with opioid use disorder increasingly switched to heroin, which proved more deadly.
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CVS, Walgreens announce opioid settlements totaling $10B. Walmart in discussions for dealTwo 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...
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CVS Health agrees to $5B settlement of opioid lawsuitsCVS Health has announced an agreement in principle that would make it the first major pharmacy chain to reach a nationwide settlement of lawsuits over how it handled prescriptions for powerful and addictive prescription opioid painkillers that are linked to an overdose epidemic. The Woonsocket, Rhode Island company would pay about $5 billion over 10 years under a deal that, if accepted, would be one of the largest settlements over the crisis. Other pharmacies, including Rite Aid, Walgreens and Walmart have reached agreements with individual states.
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CVS Health agrees to $5B settlement of opioid lawsuitsCVS Health says it has reached a deal that would make it the first major pharmacy chain to settle opioid lawsuits across the United States.
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CVS Health agrees to $5B settlement of opioid lawsuitsOther pharmacies, including Rite Aid, Walgreens and Walmart have reached agreements with individual states.
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CVS Health agrees to $5B settlement of opioid lawsuitsCVS Health says it has agreed to pay about $5 billion to state, local and Native American tribal governments to settle lawsuits over the toll of opioids.
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