DES MOINES, IOWA (November 2, 2022) — Iowa Attorney General Tom Miller and a bipartisan group of attorneys-general have reached a settlement in principle with CVS and Walgreens, which would provide $10.7 billion to states and local governments nationally to address the opioid crisis.
The retail pharmacy chains told investors Wednesday about the agreements to settle the lawsuits. CVS expects to provide $5 billion in payments over ten years, while Walgreens would make $5.7 billion in payments over fifteen years. Critical details of the settlements remain the subject of continuing negotiations.
“Addressing the opioid epidemic has been a priority of my office for many years,” AG Miller said. “We have worked to address this crisis by holding accountable those who exacerbated the use of opioids, including retail pharmacies.”
CVS Pharmacy and Walgreens are the two largest pharmacy chains in the US. The AGs had accused the companies of ignoring red flags over opioid prescriptions and failing to detect and prevent the abuse and diversion of the drugs.
“While significant work remains, a broad coalition of states is making progress in our negotiations with the pharmacies,” AG Miller said. “We are hopeful that we will be able to reach a final agreement on all terms and provide meaningful resources to those suffering from Opioid Use Disorder.”
The agreements in principle are the first between the AG’s office and pharmacy chains. AG Miller previously announced several agreements with opioid manufacturers:
- In August, AG Miller reached an agreement in principle with Endo International Plc and its lenders that would provide up to $450 million to participating states and local governments, ban promotion of Endo’s opioids, and require Endo to turn over millions of documents related to its role in the opioid crisis for publication in a public online archive;
- In late July, AG Miller announced agreements in principle with two other opioid makers, Teva Pharmaceuticals and Allergan, that would provide $6.6 billion nationally. His office is leading negotiations with the two companies;
- In February, final approval was given for the $26 billion opioid agreement with the nation’s three major pharmaceutical distributors — Cardinal, McKesson, and AmerisourceBergen — and Johnson and Johnson.
- In February 2021, AG Miller announced that Iowa would receive $4,677,279 over five years as part of a settlement with one of the world’s largest consulting firms, McKinsey and Co, over its role in fueling the opioid epidemic.
Find Help
If you or a loved one suffers from Opioid Use Disorder, go to IowaOpioidHelp.com to find treatment centers and other resources across the state. The Iowa Attorney General’s Office launched the site in September to provide Iowans with a path to recovery.
“Most people do not realize that addiction to opioids is treatable and that Iowans suffering from Opioid Use Disorder can successfully regain control of their lives,” AG Miller said. “There is help and hope available right now.”
For more information on opioid settlements, visit our Opioid Settlement Information page.
