Walmart to pay $3.1 billion to settle opioid litigation

KUAR | By Kim Souza / Talk Business & Politics

Walmart has reached a settlement in litigation relating to the national opioid epidemic totaling $3.1 billion. The settlement will effectively resolve all opioid lawsuits by state, local and tribal governments, according to the retailer.

The hefty settlement dinged Walmart’s earnings per share by $1.11 in the third quarter, helping to drive a net loss of 66 cents per share for the retail giant. The deal also comes on the heels of settlements reached by competitors Walgreens and CVS last week totaling $10 billion.

“Walmart believes the settlement framework is in the best interest of all parties and will provide significant aid to communities across the country in the fight against the opioid crisis, with aid reaching state and local governments faster than any other nationwide opioid settlement to date, subject to satisfying all settlement requirements,” the company noted in the release.

https://www.ualrpublicradio.org/local-regional-news/2022-11-16/walmart-to-pay-3-1-billion-to-settle-opioid-litigation

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The Arkansas-based company is the latest retailer to agree to a settlement over the dispensing of addictive opioid medications. Walmart had previously vowed to fight the litigation.

AG Rutledge Announces $216 Million Allocation of Opioid Settlement Money with Cities, Counties

by Talk Business & Politics staff (staff2@talkbusiness.net)

Attorney General Leslie Rutledge announced Thursday (Oct. 7) that Arkansas’ allocation of a $216 million opioid settlement will be split evenly between cities, counties and the state.

A signed Arkansas Opioids Memorandum of Understanding (MOU) clarifies the settlement being paid by opioid manufacturers and distributors.

“By bringing the cities, counties and state together, all Arkansas communities will have access to funds for the prevention, education, and treatment of opioid use,” said Rutledge. “Far too many Arkansans have felt the impact of the opioid epidemic. Our MOU will help save lives through education and treatment of those battling addiction across Arkansas.”

https://talkbusiness.net/2021/10/ag-rutledge-announces-216-million-allocation-of-opioid-settlement-money-with-cities-counties/

Arkansas to Receive $216 Million of $26 Billion Settlement Reached in Opioid Crisis

by George Jared (gjared@talkbusiness.net)

Arkansas Attorney General Leslie Rutledge announced Friday (July 23) a $26 billion agreement with pharmaceutical manufacturers and distributors of opioids.

The agreement includes Cardinal, McKesson, and AmerisourceBergen – the nation’s three major pharmaceutical distributors – and Johnson & Johnson, which manufactures and markets opioids. The settlement requires significant industry changes that will help prevent an opioid crisis from happening again, she said. The agreement would resolve investigations and litigation over the companies’ roles in creating and fueling the opioid epidemic.

Drug overdoses, fueled by opioids, has been the second leading cause of accidental deaths in Arkansas in the last decade. In the last three years, opioid deaths have been declining, but they are still high on a per capita basis.

https://talkbusiness.net/2021/07/arkansas-to-receive-216-million-of-26-billion-settlement-reached-in-opioid-crisis/

AG Rutledge on Sarah Huckabee Sanders, Opioid Lawsuit

by Roby Brock

Arkansas Attorney General Leslie Rutledge says her new lawsuit against Walgreens is part of a continuing mission of accountability for the opioid crisis, and she says her experience as the state’s top legal officer makes her more qualified to be the next governor of Arkansas.

In a mid-week Talk Business & Politics interview, Rutledge claimed Walgreens should have done more to curtail the prescription of opioids. By not doing so, the national pharmacy chain has contributed to the black market for the extremely addictive drugs.

Walgreens has denied the allegations and said it plans to “vigorously defend” itself in the lawsuit.

https://talkbusiness.net/2021/03/ag-rutledge-on-sarah-huckabee-sanders-opioid-lawsuit/