DEERFIELD, Ill. — Walgreens has agreed in principle to financial amounts and payment terms as part of settlement frameworks to substantially resolve opioid-related litigation.
Under these frameworks, the company expects to settle all opioid claims against it by participating states, subdivisions and tribes, for up to approximately $4.95 billion in remediation payments to be paid out over 15 years. The settlement frameworks include no admission of wrongdoing or liability by the company.
Walgreens released the following statement:
“As one of the largest pharmacy chains in the nation, we remain committed to being a part of the solution, and this settlement framework will allow us to keep our focus on the health and wellbeing of our customers and patients, while making positive contributions to address the opioid crisis. We believe this is in the best interest of the company and our stakeholders at this time, and allows our pharmacists, dedicated healthcare professionals who live and work in the communities they serve, to continue playing a critical role in providing education and resources to help combat opioid misuse and abuse.”
Walgreens has taken a number of actions over many years to respond to the opioid crisis, while continuing to serve patients, including:
- Providing ongoing patient education on safe opioid use
- Making life-saving Naloxone, the opioid overdose reversal medication, available in all Walgreens pharmacies nationwide (nearly 9,000 stores total)
- Providing safe and convenient medication disposal options at all Walgreens locations, including in-store kiosks at more than 1,400 stores
- Implementing time delay safes in nearly all Walgreens locations across the U.S. and Puerto Rico to help combat theft and drug diversion
- Deploying technology to help pharmacists ensure they are dispensing prescriptions written for a legitimate medical purpose
For further details, please see the 8-K filing.