London Daily

Focus on the big picture.
Saturday, Jul 18, 2026

CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims - sources

CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims - sources

CVS Health Corp (CVS.N), Walgreens Boots Alliance Inc (WBA.O) and Walmart Inc (WMT.N) have agreed to pay about $13.8 billion to resolve thousands of U.S. state, local and tribal government lawsuits accusing the pharmacy chains of mishandling opioid painkillers.

CVS said Wednesday it had agreed to pay about $5 billion over 10 years, and Walgreens disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) that it had agreed to pay about $5.7 billion over 15 years. Neither company admitted wrongdoing. Walmart has agreed to pay $3.1 billion, mostly up front, according to two people familiar with the matter.

Paul Geller, one of the lawyers who negotiated for the governments, said that settlements with pharmacies "will bring billions of additional dollars to communities that are desperate for funds to combat the epidemic" of opioid addiction.

"We know that reckless, profit-driven dispensing practices fueled the crisis; but we know just as surely that with better systems in place and proper heeding of red flag warnings, pharmacies can play a direct role in reducing opioid abuse and in saving lives," Geller said.

CVS general counsel Thomas Moriarty said in a statement the company was pleased to resolve the claims and the deal was "in the best interest of all parties, as well as our customers, colleagues and shareholders."

Walgreens said in its SEC filing that it "continues to believe it has strong legal defenses" and will defend itself vigorously against any future lawsuits not covered by the settlement.

Both CVS and Walgreens said their agreements would not be final until certain non-monetary terms were worked out, and that the total amount could be reduced if not enough government plaintiffs sign on.

Walmart did not immediately respond to a request for comment.

The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion.

In more than 3,300 lawsuits, beginning in 2017, state and local governments accused drugmakers of downplaying the risks of their opioid pain medicines, and distributors and pharmacies of ignoring red flags that prescriptions were being diverted into illegal trafficking.

They said the resulting human toll, as well as strain on public health services and law enforcement, was a public nuisance that the companies must pay to fix.

CVS, Walgreens and Walmart are the three largest retail pharmacies in the country by market share. If their settlement becomes final, it will put much of the sprawling, years-long litigation over opioids to rest, though cases are still pending against smaller, more regionally focused pharmacy operators including Rite Aid Corp (RAD.N) and Kroger Co (KR.N).

Plaintiffs had scored some significant trial victories against pharmacy chains, including a $650.6 million judgment in favor of two Ohio counties against CVS, Walgreens and Walmart, and a ruling that Walgreens contributed to the opioid epidemic in San Francisco.

Previous settlements netted $21 billion from the three largest U.S. drug distributors, $5 billion from Johnson & Johnson, $4.35 billion from Teva Pharmaceutical Industries Ltd, $2.37 billion from AbbVie Inc and $450 million from Endo International Plc.

Purdue Pharma LP, whose prescription pill OxyContin is widely blamed for sparking the addiction and overdose crisis, and its Sackler family owners are seeking to resolve opioid claims against them through a $6 billion settlement in bankruptcy court.

State and local authorities have said they will use the money from the settlements to combat the opioid crisis, which according to federal government data has caused nearly 650,000 overdose deaths since 1999 and is continuing to worsen.

Prescriptions for opioids rose sharply in the 1990s as companies aggressively promoted the drugs, long used primarily in cancer patients, as a safe way to treat all kinds of chronic pain.

Overdoses involving opioids, including prescription pills and heroin, surged further during the COVID-19 pandemic, increasing 38% in 2020 over the previous year and another 15% in 2021, according to the U.S. Centers for Disease Control and Prevention.

The agency has attributed much of the recent rise in overdose cases to illegally manufactured fentanyl, a powerful synthetic opioid.

A congressional report last month put the economic toll of the opioid crisis in 2020 alone at $1.5 trillion.

Newsletter

Related Articles

0:00
0:00
Close
Ukrainian Drone Barrage Kills Eight and Strikes Russian Logistics Network
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
The Monaco Bombing Has Become a Test of Ukraine’s Intelligence Accountability
Leadership Change and Strategic Rivalry Redraw the Political Map
Energy Risk, Uneven Growth and the New Geography of Global Capital
The AI Race Enters Its Infrastructure Era
Security and resilience remain long-term national priorities
Britain balances growth ambitions with public finance pressures
Regional devolution becomes a defining theme of the next Labour era
Industrial strategy returns to the centre of British economic policy
Political Instability Remains a Challenge for UK Investment Confidence
Brexit Economic Debate Continues as Public Concerns Over Long-Term Impact Remain
UK Climate Risks Rise as Met Office Warns Extreme Weather Is Becoming More Common
Housing Shortages and Regional Inequality Become Key Priorities Under Incoming Labour Leadership
National Health Service Reform Remains One of Britain’s Biggest Political Challenges
Bank of England Remains at Centre of UK Economic Debate Over Inflation and Growth
UK Economy Shows Recovery Signs but Households and Businesses Remain Under Pressure
Britain Deepens European Defence Cooperation as NATO Allies Seek Stronger Security Capabilities
United Kingdom Expands Sanctions Against Russian Cyber Networks Over Security Threats
UK Industrial Strategy Faces Test After Government Takes Control of British Steel
British Businesses Seek Policy Clarity as Andy Burnham Prepares to Lead Labour Government
Andy Burnham’s Labour Leadership Signals Major Shift Toward Regional Power and Devolution
British Steel Nationalisation Creates New UK-China Tensions Over Control of Strategic Industry
For 36 Years, He Scammed About 300 Luxury Hotels — Until He Was Caught
England's World Cup Exit Expected to Cost Hospitality and Retail £334 Million
Former ICC Prosecutor Aide Speaks Publicly About Allegations Against Karim Khan
Opposition Raises Questions Over June Heatwave Power Grid Pressures
Mastercard Explores Sale of Majority Stake in UK Payments Operator Vocalink
Boeing Forecasts Global Commercial Aircraft Fleet Will Double by 2045
London GP Surgeries Receive £18 Million to Expand Primary Care Capacity
Health Advisers Recommend Nationwide Meningitis B Vaccination for Teenagers
OECD Warns UK Economy Faces Slower Growth and Weak Productivity
Treasury Places Major Global Cloud Providers Under Direct Financial Oversight
Financial Markets Rally as Shabana Mahmood Emerges as Leading Treasury Candidate
Incoming Government Prepares Thames Water Nationalisation and New North Sea Drilling Approvals
UK Government Plans Deep Cuts to Bilateral Aid for African Nations
United States and Iran Exchange Direct Strikes for Seventh Consecutive Night
Incoming Prime Minister Andy Burnham Confirmed as Labour Leader Ahead of Downing Street Handover
Britain Nationalises British Steel to Protect Scunthorpe Production and Strategic Supply
Andy Burnham Takes Labour Leadership and Prepares to Become Britain’s Seventh Prime Minister in a Decade
Tech Companies Want to Move Computing Off Your Screen and Onto Your Body
White House Teleprompter Operator Earned More Than $100,000 From Bets Linked to the President's Speeches
French Prime Minister Survives No-Confidence Vote After Controversial Budget Cuts
European Commission Opens Excessive Deficit Procedure Against France
French Senate Blocks Key Immigration Reform Measures
French Government Pushes EU Action Against Ultra-Fast Fashion Imports
French Parliament Debates Expanded Autonomy Powers for Corsica
France Reopens Autonomy Talks With New Caledonia After Months of Unrest
Bordeaux Wine Producers Seek Three Hundred Million Euro Aid Package After Export Collapse
×