Mega Pharmacies Will Pay $14 BILLION to Settle Opioid Lawsuits

By | November 3, 2022

CVS, Walgreens and Walmart will pay around $13.8 billion to resolve thousands of lawsuits accusing the pharmacy chains of mishandling opioid drugs. Ana Kasparian discusses on The Young Turks. Watch LIVE weekdays 6-8 pm ET.

Read more HERE:

“CVS and Walgreens have tentatively agreed to pay a combined $10 billion to settle lawsuits brought by states and local governments alleging the retailers mishandled prescriptions of opioid painkillers.

Walmart has also tentatively agreed to pay $3 billion to settle a similar lawsuits, Bloomberg reported, citing sources familiar with the matter. The agreement wouldn’t be finalized until enough states, counties and cities agree to the terms, the outlet said.”


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CVS agreeing to pay about five billion Dollars over the next 10 years to settle Outstanding State local and tribal Opioid litigation reporting that it's Part of a tentative 12 billion dollar Global settlement that includes wall Wings and Walmart last August a federal Judge ordered the three they're the Largest pharmacies in the country to pay A 650 million dollars in Damages in a Suit brought by two Ohio counties Foreign Major chain pharmacies will be paying a Settlement it's not completely finalized But it appears that this is likely going To be the outcome and it's due to the Fact that the executives over at these Big chain pharmacies were warned over And over again by the pharmacists Working there that hey We should question some of these Prescriptions it looks like we're Dispensing quite a few painkillers here That could be leading to or helping to Fuel the opioid epidemic and clearly the Executives according to these trials did Not listen So let's give you some more details on This CBS healthcore Walgreens boots Alliance Inc and Walmart Inc have agreed To pay about 13.8 billion dollars to Resolve thousands of U.S state local and Tribal government lawsuits accusing the Pharmacy chains of mishandling opioid

Painkillers Now uh when you look at how much each One of these companies will pay in the Settlement and then you consider how Much the opioid crisis has cost the United States government You'll get a better sense of how this is Nonsense I'm just gonna say it because These are companies that made a Tremendous amount of profit by Dispensing these opioids dispensing These painkillers fueling the opioid Epidemic Fueling the overdose deaths that the Country is still grappling with today They made a ton of money off all of that And while they privatize those gains We socialize the losses to the tune of 1.7 trillion dollars So I'll get to those numbers in a moment But CBS said Wednesday that it had Agreed to pay about 5 billion dollars Over 10 years it's nothing it's chump Chains for them and Walgreens disclosed In a filing with the U.S Securities and Exchange Commission the SEC that it had Agreed to pay about 5.7 billion over 15 Years neither company though admitted Any wrongdoing Walmart has agreed to pay 3.1 billion mostly up front according to Two people familiar with the matter the Proposed settlement which would be the First Nationwide deal with Retail Pharmacy companies follows Nationwide

Opioid settlements with the drug makers And Distributors which totaled more than 33 billion dollars previous settlements Netted 21 billion dollars From three from the three largest U.S Drug Distributors uh 5 billion from Johnson and Johnson 4.35 billion from uh Teva or Teva pharmaceutical Industries And 2.37 billion from ABV and 450 Million from Endo International Now the evidence presented during the Trials uh we're telling so my sense is They wanted the trials to stop and they Just agreed to a settlement even though Honestly they got a better part of the Deal because again when you think about The profits they made this is really a Slap on the wrist and then when you Compare it to how much we the U.S Taxpayers have had to pay in response to This crisis again you'll get a better Sense of uh how we're really the ones Who got screwed at the end of the day But I do want to go to this video Because it talks about some of the Evidence that was presented during the Trial Documents from CVS and Walgreens have Been entered into the record that Suggests that employees of these Pharmacy chains were saying two Corporate Executives look were worried By what we're seeing we're not sure that We're doing enough we think that some

Orders are coming in that could wind up With these powerful addictive pills Being diverted and abused and I should Say that you know NPR's own Investigative reporting has has found Pharmacists at Walmart in particular who Say over and over we tried to reach out To corporate Executives we tried to warn Them that this was going wrong and and We were silenced or we were ignored So when I first read about how you know These pharmacies were were dealing with These trials I was like I don't know if It's really the pharmacy's fault right I Mean you've got Yes the pill Mill pharmacies that are Dispensing these drugs Without Really Double checking to make sure that the Prescriptions are you know accurate They're not fraudulent like that was an Issue but I mean my experience with uh CVS for instance They get the prescription from the Doctor if they ever have any questions They hit up the doctor to make sure the Prescription is real Um and I I feel like they go above and Beyond in making sure that there isn't Anything questionable going on but no What was transpiring was uh in in some Cases right these pharmacies Were the pharmacists working at the Pharmacies looked at these prescriptions Realized that they were ordering and

Dispensing an insane amount of opioid Drugs and they said these are this is a Red flag and once they reached out to The corporate Executives to say that There's something up and maybe we should You know kind of evaluate the situation To ensure that we're not assisting in Fueling this opioid epidemic based on The evidence shown in the trials No I mean the executives didn't want to Do a damn thing about it because it was Helping their bottom line So let's now talk a little bit about What the Opioid epidemic has caused in this Country As many as a hundred thousand people Died of drug overdoses last year alone 2021. not all of those overdoses were Due to uh prescription painkillers but The vast majority of them were due to Opioids Both synthetic opioids and prescription Opioids as well so fentanyl took up the Bulk of the overdose deaths last year And it continues to be a huge problem And if you look at how much it's costing Our government to respond to this crisis You'll get a sense of how these Settlements are nowhere near enough A congressional report just last month Put the economic toll of the opioid Crisis in 2020 alone At 1.5

Trillion dollars Just let that sink in for one second 1.5 this is according to Reuters this Isn't some random publication and it's Based on a congressional report put out Last month the U.S government spent 1.5 Trillion dollars in response to the Ongoing and ever expanding opioid Epidemic last year alone I'm two years Ago actually 2020. Cases are still pending against smaller More regionally focused Pharmacy Operators including Rite Aid and Kroger Unfortunately overdoses have continued To shot a shoot up during the pandemic No pun intended there I apologize Overdoses involving opioids including Prescription drugs and heroin surged Further during the covid-19 pandemic Increasing 38 percent in 2020 over the Previous year and another 15 percent in 2021 according to the U.S Centers for Disease Control and prevention now what Will happen with that money uh that that These companies have agreed to pay Through these settlements well various States want to invest that money in drug Rehabilitation programs And efforts to respond to the ongoing Epidemic but again I mean considering How much we're already spending this Settlement money is barely even a drop In the bucket The fact that we can have corporations

Engage in profit-seeking behaviors Knowing full well that it's going to Lead to the deaths of hundreds of Thousands of Americans per year and just Kind of get away with it with a little Slap on the wrist It tells you everything you need to know About how this country and the way it Functions puts profits over literal Human lives so I don't want to hear a Damn person talk to me about how we need To strip women of their bodily autonomy And their Reproductive Rights because They care about human life so much when It comes to zygotes and fetuses Fact of the matter is Not a damn person in Congress not a damn Politician genuinely cares about human Lives if they can sit back and stomach The garbage that we see time and time Again with these corporations preying on Our fellow Americans just to turn a Profit and then they get no punishment In the end or barely any punishment We're just fed up with this garbage man It's just endless

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