CVS, Walmart and Walgreens to pay $13.8 billion for U.S. opioid lawsuits

CVS Health Corp, Walgreens Boots Alliance and Walmart agreed to pay about $13.8 billion to settle thousands of US state, local and tribal lawsuits accusing pharmacy chains of mishandling opioid pain relievers.

CVS said on Wednesday it had agreed to pay about $5 billion over 10 years, and Walgreens disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) that it will pay approximately $5.7 billion. billion in 15 years.

None of the companies admitted wrongdoing. Walmart also agreed to pay $3.1 billion, most of it in cash, according to two sources familiar with the matter.

Paul Geller, one of the lawyers who has negotiated for governments, said the drugstore deals “will bring billions of additional dollars to communities that are desperate for funds to fight the epidemic” of opioid addiction.

“We know that reckless, for-profit distribution practices fueled the crisis; but we also certainly know that with better systems and proper attention to warning signs, pharmacies can play a direct role in reducing opioid abuse and saving lives,” said Geller.

CVS General Counsel Thomas Moriarty said in a statement that the company is pleased to resolve the claims and that the settlement is “in the best interests of all parties, as well as our customers, colleagues and shareholders.”

Walgreens said in its filing to the SEC that it “continues to believe it has strong legal defenses” and that it will vigorously defend itself against any future actions not covered by the settlement.

Both CVS and Walgreens said their settlements will not be final until certain non-cash terms are resolved, and that the total amount may be reduced if there are not a sufficient number of government claimants.

Walmart did not immediately respond to a request for comment.