CVS and Walgreens Announce Opioid Settlements Totaling $10 Billion

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. 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 crisis that has been linked to more than 500,000 deaths in the U.S. over the past two decades. In the lawsuits, governments said pharmacies filled prescriptions they should have flagged as inappropriate. [time-brightcove not-tgx=”true”] The deals call for most of the funds from Woonsocket, Rhode Island-based CVS and Deerfield, Illinois-based Walgreens to be used to fight the opioid crisis through such efforts as expanding treatment and support programs for people with addiction, along with providing overdose antidotes and launching prevention efforts. In a conference call with analysts Wednesday, CVS Health CEO Karen Lynch said the deal sprang from mediation discussions that started last month. 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. Read More: Drug Overdose Deaths Rose More Among Black and Indigenous Ame...
Source: TIME: Health - Category: Consumer Health News Authors: Tags: Uncategorized Drugs healthscienceclimate wire Source Type: news