CVS Health Corp. has agreed to pay about $5 billion in a landmark settlement that the company says would resolve all remaining opioid-crisis lawsuits brought by states, cities and other governments, the Wall Street Journal reported. The largest U.S. drugstore company is the first pharmacy chain to reach a settlement in the collection of lawsuits brought by governments and Native American tribes blaming CVS and rival pharmacies for helping fuel the nation’s opioid epidemic. Under the proposed deal, CVS would pay $4.9 billion to states and municipalities and $130 million to tribes over the next 10 years starting in 2023. The company said the agreement isn’t an admission of guilt and that it would continue to defend against any litigation that the settlement doesn’t resolve. Each state, local government and tribe still must decide whether to participate in the settlement. The company, in a statement, said it is pleased to have resolved the claims and outlined steps it has taken to combat opioid abuse. CVS has been in a separate legal battle with its insurers over whether they should cover some of the liability the company faces for the opioid lawsuits.
