Opioid settlement: Walmart agrees to $3.1 billion framework


new York
CNN business

Walmart agreed to the framework of a $3.1 billion settlement that resolves allegations by several state attorneys general that the company failed to regulate opioid prescriptions, which contributed to the nationwide opioid crisis.

According to the office of New York Attorney General Letitia James, who led a coalition of attorney generals in the negotiations, the settlement will also include “broad, court-ordered requirements that Walmart must meet, such as: B. Maintain strict oversight to prevent fraudulent prescriptions and flag suspicious prescriptions.”

Walmart said in a statement it “believes the settlement framework is in the best interests of all parties and will provide significant help to communities across the country in the fight against the opioid crisis, with help reaching state and local governments faster than any other nationwide opioid.” Settlement to date, subject to fulfillment of all settlement requirements.”

But Walmart said it “strongly denies the allegations in these matters,” noting that the settlement framework does not include an admission of liability.

The Framework will resolve virtually all opioid lawsuits and potential lawsuits brought against Walmart by state, local and tribal governments, provided all of the terms of the settlement are met.

As part of the agreement, New York State will receive up to $116 million. The settlement has yet to be approved by other states, but James’ office expects to have the deal approved by the end of the year.

“Attorney General James and her colleagues are optimistic that by the end of 2022 the settlement will have the support of the required 43 states, allowing local governments to join the agreement in the first quarter of 2023,” the press release said.

Attorneys general from New York, California, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Louisiana, Massachusetts, Nebraska, North Carolina, Ohio, Pennsylvania, Tennessee and Texas helped negotiate this agreement.

“Promising negotiations” with other pharmacies, including Walgreens and CVS, are ongoing, James’ office said.

News of the multi-state settlement comes after the New York Attorney General’s office announced it had received $523 million from Teva Pharmaceuticals and its affiliates for their role in the opioid crisis, effectively ending the state’s litigation against Flagged opioid manufacturers and distributors not currently in bankruptcy proceedings.

source

Leave a Reply

Your email address will not be published. Required fields are marked *