Opioid Crisis Leads CVS, Walgreens to Offer $10 Billion to Stop Opioid Suits

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CVS Phamarcy
CVS Phamarcy

On November 2, 2022, Walgreens and CVS Pharmacy sent an offer of $10 billion in an effort to end all the opioid suits across the country. These lawsuits are centered around the pharmacies sale of controlled substances and prescription narcotics to its customers. Walgreens and CVS are two of the largest, most successful, and most well-known pharmacies in the United States. Each pharmacy has reportedly put up about $5 Billion in this offer, and there is even speculation that a third, Walmart will join in on the cause. It is unknown if Walmart will actually enter into this deal, as they have declined to speak on the matter. However, the speculation is that Walmart will put up its own $3 Billion for the cause.

If this deal were to go through, it would be monumental for all parties involved and would create a precedence unlike before. One of the lawyers for MDL made a statement: “These landmark agreements-in-principle reached with CVS and Walgreens on economic terms totaling more than $10 billion are an important step in our efforts to hold pharmacy defendants accountable for their role in the opioid epidemic that continues to devastate individual lives, as well as entire cities and states.”