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Walgreens to pay about $5 billion to resolve some opioid lawsuits with states and tribes

walgreens-to-pay-about-$5-billion-to-resolve-some-opioid-lawsuits-with-states-and-tribes

Walgreens Boots Alliance WBA, -1.24% said Wednesday it will pay about $5 billion as part of a framework to resolve “a substantial majority” of opioid-related lawsuits with some states and Native American tribes, according to a securities filing. That includes $4.79 billion over 15 years to participating states and $154.5 million over 15 years to participating tribes. Walgreens did not admit wrongdoing or liability. CVS Health Corp. CVS, +2.30% announced a similar agreement earlier on Wednesday, saying it will pay about $5 billion over the next 10 years. Walgreens’ stock is down 30.5% this year, while the broader S&P 500 SPX, -2.50% has declined 19.1%.

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