Walgreens to Pay Up to $350 Million to Settle Claims It Played a Role in the US Opioid Crisis

MT Newswires Live
22 Apr

Walgreens Boots Alliance (WBA) has agreed to pay up to $350 million to settle claims it played a role in the US opioid crisis, the Department of Justice said Monday.

The Justice Department alleged that Walgreens and its subsidiaries illegally filled millions of invalid prescriptions for opioids and other controlled substances and then sought payment for many of those invalid prescriptions from the federal government.

The alleged practice took place from August 2012 through March 1, 2023, the Justice Department said.

The $350 million settlement is made up of a $300 million payment plus a further $50 million if Walgreens is sold, merged, or transferred before fiscal 2032.

"The settlement amount is based on Walgreens's ability to pay," the Justice Department said.

Walgreens also agreed to implement certain compliance measures to ensure it meets the law when dispensing controlled substances, the Justice Department said.

The Justice Department added that its claims were allegations only and there had been no determination of liability.

Walgreens did not immediately respond to a request for comment from MT Newswires.

Price: 10.85, Change: -0.04, Percent Change: -0.41

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10