To settle the cases that have been brought against Walgreens and CVS for mishandindlig prescriptions of opioid painkillers, both retailers have agreed to pay a combined amount of $10 billion to states and local governments.
Opioids are drugs used to harness the pain-reducing qualities of opium. Prescription painkillers such as oxycodone, hydrocodone, morphine and illicitly produced fentanyl, are some common types of opioids. Illegal drugs like heroin are another example of opioids.
The U.S. opioid crisis is cited as the cause of over 500,000 drug overdose deaths in the country in just the last 2 decades. Of this, over 80,000 deaths occurred in 2021 alone. It has been estimated that in 2020, over 9 million Americans 12 years or over misused opioids. This includes approximately 900,000 heroin users and over 9M abuser of prescription pain relievers.
CDC’s National Center for Health Statistics has also reported that in the 12-month period in the U.S. that ended in April of last year, two-thirds of the over 100,000 drug overdose death toll can be credited to synthetic opioids like fentanyl.
Counties and cities in the United States have brought over 3,000 cases against opioid manufacturers and distributors because they have been downplaying the risk of addiction that comes with these drugs as well as filed to put an end to the illegal use of these pills.
Walgreens has announced that it will pay around $4.8B in remediation over the next decade and a half. Apart from this over $150 million will be paid to participating parties and approximately $750 million will be given in legal charges.
In a press release by Walgreens executives it was announced, “As one of the largest pharmacy chains in the nation, we remain committed to being a part of the solution, and this settlement framework will allow us to keep our focus on the health and wellbeing of our customers and patients while making positive contributions to address the opioid crisis, we believe this is in the best interest of the company and our stakeholders at this time and allows our pharmacists, dedicated healthcare professionals who live and work in the communities they serve to continue playing a critical role in providing education and resources to help combat opioid misuse and abuse.”
In comparison CVS has announced that if settlement is reached, it will pay around $5 billion over the course of the decade, starting from 2023, of this amount, $4.9 billion will be paid to states and other political subdivisions and Native Americans who have brought opioid claims will be paid $150 million.
The settlement aims to resolve all disputes regarding the matter that dates back as far as over a decade and is not an admission of any form of liability or wrongdoing, the company clarified.
Apart from CVS and Walgreens, Walmart has also indefinitely agreed to pay around $3 billion to settle similar lawsuits. However, until enough states and government bodies agree the agreement won’t be finalized.
