Walgreens, Florida settle opioid costs lawsuit for $683M


The Walgreens logo on the front of a store, July 14, 2021, in Cambridge, Mass. The Walgreens pharmacy chain has reached a $683 million settlement with the state of Florida in a lawsuit accusing the company of improperly dispensing millions of painkillers that contributed to the opioid crisis, state officials said Thursday, May 5, 2022. (AP Photo/Charles Krupa, File)

ST. PETERSBURG, Fla. (AP) — The Walgreens pharmacy chain has reached a $683 million settlement with the state of Florida in a lawsuit accusing the company of improperly dispensing millions of painkillers that contributed to the opioid crisis, state officials said Thursday.

State Attorney General Ashley Moody said the deal was struck after four weeks of government evidence was presented at trial. Walgreens was the 12th and final defendant to settle with Florida, which will bring in more than $3 billion for the state to tackle opioid addiction and overdoses.

“We now go into battle armed and ready to fight back hard against this manmade crisis,” Moody said at a news conference in Tampa. “I am glad that we have been able to end this monumental litigation and move past the courtroom."

Walgreens, based in Deerfield, Illinois, said in a statement the company did not admit wrongdoing in the deal, during which $620 million will be paid to the state over 18 years and a one-time sum of $63 million for attorney fees. Walgreens operates more than 9,000 stores in all 50 states, according to the company website. About 820 of those locations are in Florida.

OxyContin maker Purdue Pharma has a tentative nationwide deal that includes $6 billion in cash from members of the Sackler family who own the company. In all, settlements, civil and criminal penalties around the country since 2007 have totaled over $45 billion, according to an Associated Press tally.

The Florida case hinged on accusations that as Walgreens dispensed more than 4.3 billion total opioid pills in Florida from May 2006 to June 2021, more than half contained one or more easily recognized red flags for abuse, fraud and addiction that the company should have noticed and acted upon.

The opioid epidemic has been linked to more than 500,000 deaths in the U.S. over the past two decades, counting those from prescription painkillers such as OxyContin and generic oxycodone as well as illicit drugs such as heroin and illegally produced fentanyl.


In the same case, CVS Health Corp. and CVS Pharmacy Inc. agreed to pay the state $484 million. Teva Pharmaceuticals Industries Ltd. agreed to pay $195 million and Allergan PLC more than $134 million.

Florida has previously obtained millions of dollars in opioid settlements involving McKesson Corp., Cardinal Health Inc., Johnson & Johnson Inc. and AmerisourceBergen Corp.

Should you invest $1,000 in Cardinal Health right now?

Before you consider Cardinal Health, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cardinal Health wasn't on the list.

While Cardinal Health currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.

Get This Free Report

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Cardinal Health (CAH)
4.2799 of 5 stars
$103.52+0.1%1.93%40.76Moderate Buy$103.07
Compare These Stocks  Add These Stocks to My Watchlist 


Featured Articles and Offers

Search Headlines: