Walgreens Announces $683M Opioid Settlement With Florida

  • Walgreens Boots Alliance Inc WBA has reached a $683 million settlement with Florida to resolve claims that the pharmacy chain exacerbated an opioid epidemic in the state.
  • The settlement includes $620 million to be paid to Florida over 18 years, plus $63 million for legal fees.
  • The settlement ends a trial that began on April 11, after Walgreens decided not to join a combined $878 million settlement with four other healthcare companies, including CVS Health Corp CVSwrites Reuters.
  • Walgreens did not admit to wrongdoing as part of the settlement.
  • Also Read: Why Walgreens Boots Alliance Shares Are Plunging Today
  • "I am glad that we have been able to end this monumental litigation and move past the courtroom," Florida Attorney General Ashley Moody said on Thursday during a press conference.
  • Florida's settlement with Walgreens came days after Washington state reached a $518 million opioid settlement with drug distributors AmerisourceBergen Corp ABC, Cardinal Health Inc CAH, and McKesson Corporation MCK.
  • Price Action: WBA shares are down 2.20% at $43.48 during the market session on the last check Thursday.
  • Photo by Diamond Rehab Thailand via Pixaby
Posted In: BriefsHealth CareHealth Care DistributorsNewsHealth CareLegalGeneral