CVS Health, Teva Settle Florida State's Opioid-Related Claims: Report - CVS Health (NYSE:CVS), Johnson & Johnson (NYSE:JNJ), Walgreens Boots Alliance (NASDAQ:WBA)

Florida has reached more than $878 million in settlements with CVS Health Corp CVS and three drug companies to resolve claims and avert a trial next month over their roles in fueling an opioid epidemic.
CVS will shell out $484 million, Teva Pharmaceutical Industries Ltd TEVA will pay $194.8 million, Abbvie Inc's ABBV Allergan unit will pay $134.2 million, and Endo International Plc ENDP will pay $65 million, Florida's attorney general Ashley Moody said in a statement.
Most of the money will be spent on opioid abatement. Teva will also provide $84 million of its generic Narcan nasal spray, which can temporarily reverse the effects of opioid overdoses.
Also See: Rhode Island Announces $107M Opioid Settlements With Teva, Allergan: Reuters.
The four companies denied wrongdoing in agreeing to settle.
Moody said pharmacy chain Walgreens Boots Alliance Inc WBA is the only remaining defendant in Florida's opioid litigation, with jury selection scheduled to begin on April 5.
Last month, Johnson & Johnson JNJ and drug distributors reached final settlements worth $26 billion over their roles in the nationwide epidemic.
Price Action: TEVA shares are up 6.19% at $9.36, and CVS stock is down 2.05% at $102.52 during the market session on the last check Wednesday.

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