CVS, Walgreens announce opioid settlements totalling $10 billion

WASHINGTON, Nov 3, (AP): The two largest US pharmacy chains, CVS Health and Walgreens 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.

The prospective settlements are part of a shift in the legal landscape surrounding the opioid epidemic. Instead of suspense over whether companies in the drug industry would be held to account through trials or settlements, the big question is now how their money will be used and whether it will make a difference in fighting a crisis that has only intensified.

The deals, if completed, would end thousands of lawsuits in which governments claimed pharmacies filled prescriptions they should have flagged as inappropriate. With settlements already proposed or finalized between some of the biggest drugmakers and distribution companies, the recent developments could be the among the last multibillion-dollar settlements to be announced.

They also would bring the total value of all settlements to more than $50 billion, with most of it required to be used by state and local governments to combat opioids, which have been linked to more than 500,000 deaths in the US over the last two decades.

“It’s one more culprit of the overdose crisis that is having to pay their dues,” said Courtney Gary-Allen, organizing director of the Maine Recovery Advocacy Project. “Average Americans have been paying it for a long time.”

Gary-Allen, who is a member of a council that will help determine how Maine uses its opioid settlement funds, said more money to address the problem will help. In her state, she said, the needs include more beds for medical detox and for treatment.

Neither Woonsocket, Rhode Islandbased CVS nor Deerfield, Illinois-based Walgreens is admitting wrongdoing.