US Jury Finds Pharmacy Chains Did Not Monitor Opioid Usage, Thus Fueling Epidemic: Reuters

Jurors in Cleveland federal court have determined that pharmacy chain operators CVS Health Corp CVS, Walgreens Boots Alliance Inc WBA, and Walmart Inc WMT helped fuel the opioid epidemic in two counties in Ohio, Reuters reports.

• The jurors concluded that the companies helped create a public nuisance through an abundant supply of pain killers and diversion of those drugs to the black market.
• Mark Lanier, a lawyer for Ohio's Lake and Trumbull counties, called the verdict a "landmark decision" that paved the way for them to seek more than $1 billion.
• U.S. District Judge Dan Polster will decide how much the companies owe to abate the epidemic in the counties and is expected to hold a trial in April or May.
• CVS, Walgreens, and Walmart said they would appeal the verdict. They argued that it ran contrary to the facts and misapplied public nuisance law to hold them liable.
• Related Link: McKesson, Cardinal Health, AmerisourceBergen Face $95B Opioid Trial In Washington: Reuters.
• Price Action: CVS shares are down 1.22% at $92.50, WBA stock is down 2.03% at $46.43, while WMT shares are up 0.30% at $146.24 during the market session on the last check Wednesday.