CVS, Walgreens finalize $10B in settlements over opioids
2 years, 3 months ago

CVS, Walgreens finalize $10B in settlements over opioids

Associated Press  

CVS and Walgreens have agreed to pay state and local governments a combined total of more than $10 billion to settle lawsuits over the toll of opioids and now want to know by Dec. 31 whether states are accepting the deals. States announced final details Monday of settlements that the two largest pharmacy chains in the U.S. offered last month. California Attorney General Rob Bonta said in a statement Monday that California could get up to $510 million in the Walgreens settlement. “CVS and Walgreens flooded our cities and towns with bottles upon bottles of pills with callous disregard for the suffering their actions caused,” Connecticut Attorney General William Tong said in a statement Monday.

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History of this topic

Walgreens agrees to be acquired by private equity firm for almost $10 billion
3 weeks, 5 days ago

Walgreens agrees to be acquired by private equity firm for almost $10 billion

Associated Press  

NEW YORK — Walgreens Boots Alliance says it has agreed to be acquired by private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money. Walgreens said Thursday that Sycamore will pay $11.45 per share, giving the deal an equity value just under $10 billion. Ultimately, the company has to improve its …

Walgreens to pay $106M to settle allegations it submitted false payment claims for prescriptions
6 months, 2 weeks ago

Walgreens to pay $106M to settle allegations it submitted false payment claims for prescriptions

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Walgreens has agreed to pay …

Walgreens to pay $106M to settle allegations it submitted false payment claims for prescriptions
6 months, 2 weeks ago

Walgreens to pay $106M to settle allegations it submitted false payment claims for prescriptions

Associated Press  

WASHINGTON — Walgreens has agreed to pay $106 million to settle lawsuits that alleged the pharmacy chain submitted false payment claims with government health care programs for prescriptions that were never dispensed. The lawsuits were filed under a whistleblower provision of the False Claims Act that lets private parties file case on behalf of the United States government and share …

West Virginia starts distributing funds from the settlement of opioid lawsuits
1 year, 3 months ago

West Virginia starts distributing funds from the settlement of opioid lawsuits

Associated Press  

CHARLESTON, W.Va. — West Virginia is issuing the first checks from a fund established by the settlement of opioid lawsuits in the state, which has by far the nation’s highest drug overdose death rate. The distribution is part of a memorandum of understanding that was previously adopted by state Attorney General Patrick Morrisey and counsel for West Virginia cities and …

Nevada secures $285M opioid settlement with Walgreens, bringing total settlements to $1 billion
1 year, 8 months ago

Nevada secures $285M opioid settlement with Walgreens, bringing total settlements to $1 billion

Associated Press  

LAS VEGAS — The state of Nevada has reached a $285 million settlement with Walgreens regarding the pharmacy chain’s role in the opioid epidemic, the state’s top lawyer announced Wednesday. The last in a series of multiyear settlements with pharmaceutical companies, retailers and others, it pushes Nevada’s total anticipated payments stemming from opioid claims to $1.1 billion, state Attorney General …

Nevada secures $152 million opioid settlement with pharmacy chain CVS
1 year, 10 months ago

Nevada secures $152 million opioid settlement with pharmacy chain CVS

Associated Press  

CARSON CITY, Nev. — Nevada and pharmacy chain CVS have reached a nearly $152 million settlement to be paid over the next decade to end a lawsuit over opioid claims, state Attorney General Aaron Ford announced Tuesday. It also puts the total money Nevada expects to receive from opioid litigation settlements since 2020 at $606 million, according to Ford’s office. …

Opioid legal charge pushes Walgreens to $3.7B fiscal 1Q loss
2 years, 2 months ago

Opioid legal charge pushes Walgreens to $3.7B fiscal 1Q loss

Associated Press  

A huge opioid settlement dragged Walgreens to a $3.7 billion loss for the first quarter, but the drugstore chain still beat Wall Street forecasts. Sales from Walgreens’ U.S. pharmacies slid 3% to $27.2 billion compared to the previous year’s quarter. Walgreens’ developing U.S. health care business brought in first-quarter sales of $989 million after totaling $51 million a year ago. …

California to receive $470 million from CVS in opioid settlement
2 years, 2 months ago

California to receive $470 million from CVS in opioid settlement

LA Times  

Lawsuits by numerous states accused CVS and other pharmacy chains of fueling the opioid crisis by filling prescriptions that should have been flagged as inappropriate. California is expected to receive about $470 million from a multistate settlement with CVS over allegations that the pharmacy chain contributed to the country’s opioid crisis, the state attorney general’s office said Tuesday. Last year, …

50 states sign up for Walmart’s opioid settlement framework
2 years, 3 months ago

50 states sign up for Walmart’s opioid settlement framework

CNN  

New York CNN — Walmart said it has reached settlement agreements with all 50 US states as part of a $3.1 billion nationwide opioid settlement announced last month. In November, the retailer announced a settlement from multiple states’ attorneys general that accused the company of failing to regulate opioid prescriptions contributing to the nationwide opioid crisis. The settlement, according to …

California could receive more than $500 million from Walgreens opioid settlement
2 years, 3 months ago

California could receive more than $500 million from Walgreens opioid settlement

LA Times  

California could see more than $500 million from a $5.7-billion multistate agreement with Walgreens to settle lawsuits over its role in the opioid epidemic. California could receive more than $500 million from a $5.7-billion multistate agreement to settle a raft of lawsuits filed against Walgreens over the pharmacy chain’s role in the opioid crisis, officials said. “The settlement will resolve …

CVS and Walgreens agree to pay $10 billion to settle lawsuits linked to opioid sales
2 years, 3 months ago

CVS and Walgreens agree to pay $10 billion to settle lawsuits linked to opioid sales

NPR  

CVS and Walgreens agree to pay $10 billion to settle lawsuits linked to opioid sales Enlarge this image toggle caption Keith Srakocic/AP Keith Srakocic/AP CVS and Walgreens have agreed to pay more than $10 billion to several states in a settlement of lawsuits brought against them alleging their roles in the opioid crisis. CVS would pay nearly $5 billion over …

Walmart offers to pay $3.1 billion to settle opioid lawsuits
2 years, 4 months ago

Walmart offers to pay $3.1 billion to settle opioid lawsuits

Associated Press  

Walmart proposed a $3.1 billion legal settlement on Tuesday over the toll of powerful prescription opioids sold at its pharmacies, becoming the latest major drug industry player to promise major support to state, local and tribal governments still grappling with a crisis in overdose deaths. Bentonville, Arkansas-based Walmart said in a statement that it “strongly disputes” allegations in lawsuits from …

Walmart offers to pay $3.1 billion to settle opioid lawsuits
2 years, 4 months ago

Walmart offers to pay $3.1 billion to settle opioid lawsuits

NPR  

Walmart offers to pay $3.1 billion to settle opioid lawsuits Enlarge this image toggle caption Nam Y. Huh/AP Nam Y. Huh/AP Retail giant Walmart on Tuesday become the latest major player in the drug industry to announce a plan to settle lawsuits filed by state and local governments over the toll of powerful prescription opioids sold at its pharmacies with …

CVS, Walgreens are locking up more products behind plexiglass, but that won't stop pharmacy chains' broader decline.
2 years, 4 months ago

CVS, Walgreens are locking up more products behind plexiglass, but that won't stop pharmacy chains' broader decline.

Slate  

In September, on an earnings call with investors, Rite Aid’s executive vice president of retail, Andre Persaud, floated an idea to improve the chain’s performance in New York City: turn the drugstore into one giant vending machine in order to fight shoplifting. Then came post-pandemic closures this year, and CVS’ announcement that it would shutter 900 stores over the next …

CVS, Walgreens announce opioid settlements totaling $10B
2 years, 4 months ago

CVS, Walgreens announce opioid settlements totaling $10B

Associated Press  

The two 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, a third pharmacy behemoth, is in discussions for a deal. Walgreens said in a statement: “As one of the largest pharmacy chains in the …

US pharmacy companies reach $10bn settlement over opioid claims
2 years, 5 months ago

US pharmacy companies reach $10bn settlement over opioid claims

Al Jazeera  

The deals mean CVS and Walgreens will pay more than $10bn for their roles in the opioid crisis that continues to claim thousands of lives in US. Two US pharmacy chains have reached a tentative settlement over lawsuits brought by state, local, and tribal governments accusing the companies of contributing to the opioid crisis through irresponsible practices. CVS Health and …

CVS, Walgreens And Walmart Ordered To Pay $650 Million In Ohio Opioid Case
2 years, 7 months ago

CVS, Walgreens And Walmart Ordered To Pay $650 Million In Ohio Opioid Case

Huff Post  

LOADING ERROR LOADING A federal judge ordered CVS, Walgreens and Walmart to pay a collective $650.5 million to two counties in Ohio for their part fueling the opioid crisis in the state, a landmark ruling that lays partial blame for the epidemic on pharmacies that supplied the drugs. The ruling came after a federal jury found last November that the …

CVS, Walgreens and Walmart ordered to pay $650 million for fueling opioid crisis
2 years, 7 months ago

CVS, Walgreens and Walmart ordered to pay $650 million for fueling opioid crisis

NPR  

CVS, Walgreens and Walmart ordered to pay $650 million for fueling opioid crisis A federal judge has ordered CVS, Walgreens and Walmart to pay $650 million for helping to fuel the U.S. opioid crisis by selling and dispensing huge amounts of prescription pain pills. MARY LOUISE KELLY, HOST: A federal judge has ordered the nation's largest pharmacy chains to pay …

Judge: Walgreens contributed to San Francisco opioid crisis
2 years, 7 months ago

Judge: Walgreens contributed to San Francisco opioid crisis

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A federal judge ruled Wednesday …

Walgreens earnings slide as number of vaccinations wane
2 years, 9 months ago

Walgreens earnings slide as number of vaccinations wane

Associated Press  

A big opioid settlement and a COVID-19 vaccine slowdown dragged on third-quarter earnings for Walgreens, but the drugstore chain still topped expectations. Walgreens CEO Rosalind Brewer told analysts in January that the company would explore strategic options for that business so it could focus more on U.S. health care. Brewer said then that Walgreens was creating an entity “that does …

Judge to decide how much pharmacies owe over opioid crisis
2 years, 10 months ago

Judge to decide how much pharmacies owe over opioid crisis

Associated Press  

CLEVELAND — A hearing has begun in federal court in Cleveland for a judge to determine how much CVS, Walgreens and Walmart pharmacies should pay two Ohio counties to help them ease the ongoing costs and problems caused by the opioid crisis. Drug overdose deaths increased since 2015 because of synthetic opioids like fentanyl in the two counties, Keyes said, …

Walgreens goes to trial in Florida lawsuit on opioids
2 years, 11 months ago

Walgreens goes to trial in Florida lawsuit on opioids

Associated Press  

ST. PETERSBURG, Fla. — Most of the defendants in Florida’s lawsuit over the opioid epidemic have settled for more than $870 million, according to the state attorney general. As examples of excess, Moody said in a statement that one Walgreens outlet sold 2.2 million opioid tablets in the town of Hudson, Florida, which has about 12,000 residents. “It’s time for …

Florida secures $860M from CVS, others to settle opioid case
3 years ago

Florida secures $860M from CVS, others to settle opioid case

Associated Press  

ST. PETERSBURG, Fla. — The CVS drug store company and pharmaceutical companies will pay Florida a combined $860 million as part of the settlement of an opioid epidemic case, state officials said Wednesday. Florida Attorney General Ashley Moody said CVS Health Corp. and CVS Pharmacy Inc. will pay the state $484 million. “The monies secured from CVS, Teva, Allergan and …

4 U.S. companies will pay $26 billion to settle claims they fueled the opioid crisis
3 years, 1 month ago

4 U.S. companies will pay $26 billion to settle claims they fueled the opioid crisis

NPR  

4 U.S. companies will pay $26 billion to settle claims they fueled the opioid crisis Enlarge this image toggle caption Keith Srakocic/AP file photo Keith Srakocic/AP file photo Four of the largest U.S. corporations have agreed to pay roughly $26 billion to settle a tsunami of lawsuits linked to claims that their business practices helped fuel the deadly opioid crisis. …

Walmart, CVS, Walgreens helped fuel US opioid crisis, jury finds
3 years, 4 months ago

Walmart, CVS, Walgreens helped fuel US opioid crisis, jury finds

Al Jazeera  

The pharmacies failed to create legally mandated monitoring systems to detect illegitimate prescriptions, the jury in Cleveland, Ohio said. A Cleveland jury concluded Walmart Inc., CVS Health Corp. and Walgreens Boots Alliance Inc. helped create a public-health crisis by failing to properly monitor opioid prescriptions, the drug industry’s latest loss in the expanding litigation over the painkillers. The federal-court panel …

US opioid lawsuits on verge of settlements with 4 companies
3 years, 8 months ago

US opioid lawsuits on verge of settlements with 4 companies

Associated Press  

The yearslong effort by state and local governments in the U.S. to force the pharmaceutical industry to help pay to fix a nationwide opioid addiction and overdose crisis took a major step forward Tuesday when lawyers for local governments announced they were on the verge of a $26 billion settlement with the nation’s three biggest drug distribution companies and the …

States Are Near A $26 Billion Opioid Settlement With Drug Distributors
3 years, 8 months ago

States Are Near A $26 Billion Opioid Settlement With Drug Distributors

NPR  

States Are Near A $26 Billion Opioid Settlement With Drug Distributors Enlarge this image toggle caption Jeff Chiu/AP Jeff Chiu/AP A landmark national opioid settlement now being finalized would provide as much as $26 billion to states and communities struggling to respond to the opioid crisis. Sponsor Message The settlement's funds would be paid out over a 17-year period by …

Opioid settlement still elusive as some lawyers criticize it
5 years, 1 month ago

Opioid settlement still elusive as some lawyers criticize it

Associated Press  

State attorneys general are finding a national settlement over the toll of opioids to be elusive, as some lawyers for state and local governments are renewing public criticism of the proposed deal with a group of companies led by the nation’s largest drug distributors. In a statement Friday, Patrick Morrisey, the attorney general in West Virginia, one of the states …

Over 20 State Attorneys General Reject $18 Billion Opioid Settlement Proposal
5 years, 1 month ago

Over 20 State Attorneys General Reject $18 Billion Opioid Settlement Proposal

NPR  

Over 20 State Attorneys General Reject $18 Billion Opioid Settlement Proposal MARY LOUISE KELLY, HOST: Efforts to reach a big national opioid settlement have hit another snag. More than 20 state attorneys general have signed a letter rejecting an $18 billion deal proposed by three of the country's biggest opioid wholesalers. So a lot of these state attorneys general want …

Florida Sues Walgreens, CVS For Alleged Role In Opioid Crisis
6 years, 4 months ago

Florida Sues Walgreens, CVS For Alleged Role In Opioid Crisis

NPR  

Florida Sues Walgreens, CVS For Alleged Role In Opioid Crisis Enlarge this image toggle caption Zach Gibson/Bloomberg via Getty Images Zach Gibson/Bloomberg via Getty Images Florida is suing pharmacy chains Walgreens and CVS over their role in what the state calls "unconscionable efforts to increase the demand and supply of opioids into Florida." In a press release, Bondi's office says …

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