JNJ

Johnson & Johnson

182.12
USD
-0.09%
182.12
USD
-0.09%
155.72 186.69
52 weeks
52 weeks

Mkt Cap 479.43B

Shares Out 2.63B

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Walgreens reaches $683 mln opioid settlement with Florida

May 5 (Reuters) - Walgreens Boots Alliance WBA.O 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. It ends a trial that began on April 11, after Walgreens decided not to join a combined $878 million settlement with four other healthcare companies. Walgreens did not admit to wrongdoing as part of the settlement. Florida has recovered more than $3 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 CVS.N previously agreed to settle with Florida for $484 million, while Teva Pharmaceutical Industries Ltd TEVA.TA, Abbvie Inc's ABBV.N Allergan unit and Endo International Plc ENDP.O agreed to pay a respective $194.8 million, $134.2 million and $65 million. All denied wrongdoing. 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 is monitoring where pills ended up. Walgreens, Teva accused of fueling opioid addiction in quest for new markets Florida reaches $878 million opioid settlements with CVS, Teva, others Drug distributors, J&J agree to finalize $26 bln opioid settlement U.S. state officials urge support for landmark $26 bln opioid settlement Washington state, in $95 billion opioid trial, blames drug distributors for crisis Most U.S. local governments opt to join $26 bln opioid settlement (Reporting by Dietrich Knauth; Editing by Bill Berkrot) ((Dietrich.Knauth@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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