Walgreens reaches $683 mln opioid settlement with Florida

Florida is the first state to settle its opioid claims against major pharmacy chains Walgreens and CVS Health Corp , collecting more than $1.1 billion from the two companies. The settlement ends a trial that began on April 11, after Walgreens decided not to join a combined $878 million settlement with four other healthcare companies, including CVS.

Walgreens Boots Alliance said on Thursday it has reached a $683 million settlement with Florida to resolve claims that the pharmacy chain exacerbated an opioid epidemic in the state. The settlement includes $620 million to be paid to Florida over 18 years, plus $63 million for legal fees. Florida is the first state to settle its opioid claims against major pharmacy chains Walgreens and CVS Health Corp , collecting more than $1.1 billion from the two companies.

The settlement ends a trial that began on April 11, after Walgreens decided not to join a combined $878 million settlement with four other healthcare companies, including CVS. Walgreens did not admit to wrongdoing as part of the settlement.

Florida has recovered more than $3.6 billion in opioid litigation against drugmakers, distributors and pharmacies, according to Moody. It will spend most of the money on efforts to mitigate the opioid crisis in the state. "I am glad that we have been able to end this monumental litigation and move past the courtroom," Florida Attorney General Ashley Moody said on Thursday during a press conference.

CVS Health Corp previously agreed to settle with Florida for $484 million, while Teva Pharmaceutical Industries Ltd, Abbvie Inc's Allergan unit and Endo International Plc agreed to pay a respective $194.8 million, $134.2 million and $65 million. All denied wrongdoing. Prior to settling, Walgreens had argued it should be immune from being sued based on a $3,000 settlement it reached with Florida in 2012.

Florida had called Walgreens' position "absurd," according to court transcripts, saying the 2012 settlement addressed only a single record-keeping violation. Pasco County Court Judge Kimberly Sharpe Byrd agreed with Florida, and the trial began while Walgreens appealed her ruling.

The nationwide opioid crisis has led to more than 500,000 overdose deaths in the last two decades, according to the U.S. Centers for Disease Control and Prevention. More than 3,300 lawsuits have been filed against drugmakers, distributors and pharmacies over the crisis, including claims they played down the risks of addiction and overdoses, and were lax in monitoring where pills ended up.

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