CVS, Walgreens Agree to Pay Nearly $10 Billion in Settlements to Resolve Opioid Lawsuits
Pharmacy store chains CVS and Walgreens announced on Wednesday they have agreed to pay a total of nearly $10 billion to “substantially resolve” various opioid-related lawsuits launched against them.
CVS and Walgreens are the two largest pharmacy chains in the United States by market share. The settlements, if finalized, would be the first nationwide deal reached with retail pharmacy companies, and could be among the largest settlements related to the opioid crisis.
CVS announced in a release that it agreed in principle to pay about $4.9 billion to states and political subdivisions—such as cities and counties. It would also pay about $130 million to native tribes. The payments will be made over the next 10 years starting in 2023….