Letitia James
CVS and Walgreens have agreed to pay state and local governments a combined total of $10.7 billion to settle lawsuits over the toll of opioids.
New York Attorney General Letitia James co-led a coalition of attorneys general in negotiating the settlement.
The Walgreens payments could total up to $5.52 billion over 15 years. The CVS payments could reach $4.9 billion over 10 years. Additionally, the companies have announced tentative payments to Native American tribes totaling more than $250 million.
Like other opioid settlements, the agreements call for governments that receive money to use it to fight the drug crisis.
Under the deals, about $1.2 billion would be set aside for lawyers’ fees and legal expenses.
The companies also have agreed to monitor, report and share data about suspicious activity related to opioid prescriptions.
Under the separate deals, states have until December 31 to agree to drop claims over opioids against Walgreens and CVS to receive the maximum payouts.
If there aren’t enough states participating, the companies can back out.
If there is sufficient sign-on from states, local governments can also sign on to get shares.
The amount awarded to governments is based on their populations and the severity of the opioid crisis there. States will get bigger amounts if more of their local governments agree.
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