US pharmacy chain CVS Health said Wednesday they had agreed to pay approximately $5 billion over 10 years to “resolve all opioid lawsuits and claims” against them by states and cities.
The opioid crisis, which has caused more than 500,000 deaths over 20 years in the United States, has triggered a flurry of lawsuits against drugmakers, distributors and pharmacies from victims as well as cities, counties and states impacted by the fallout.
“We are pleased to resolve these longstanding claims and putting them behind us is in the best interest of all parties, as well as our customers, colleagues and shareholders,” CVS chief policy officer Thomas Moriarty said in a statement.
“We are committed to working with states, municipalities and tribes, and will continue our own important initiatives to help reduce the illegitimate use of prescription opioids,” he added.
The agreement in principle covers claims by all governmental entities in the United States, the statement said.
The company, which is set to begin payouts next year, clarified that the settlement is “not an admission of any liability or wrongdoing.”
“CVS Health will continue to defend against any litigation that the final agreement does not resolve,” the statement said.
CVS chief executive officer Karen Lynch told an earnings call that the company recognizes “the seriousness of the opioid abuse misconduct has had on so many Americans.”
“I just would say that we have made significant investments over the years to combat the opioid crisis and continue to do so through our leadership and our behavioral health company,” she said when asked about the settlement. (France24)