CVS, Walmart, Walgreens Agree On $13.8B Opioid Related Lawsuit Settlement

CVS Health Corp CVS, Walgreens Boots Alliance Inc WBA, and Walmart Inc WMT have reportedly agreed to pay about $13.8 billion to resolve several lawsuits accusing the companies of the opioid epidemic in the U.S.
The proposed settlement calls for CVS to pay $5 billion over ten years, Walgreens to pay $5.7 billion over 15 years, and Walmart to pay $3.1 billion, mostly upfront.
CVS Health issued a news release regarding the settlement of $5 billion over ten years starting in 2023.
The company will pay $4.9 billion to states & political subdivisions and approximately $130 million to tribes.
The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, Reuters reported, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion.
State and local authorities have said they will use the settlement money to combat the opioid crisis, which according to federal government data, has caused nearly 650,000 overdose deaths since 1999.
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