CA Finalizes $17.3 Billion Opioid Settlement With CVS, Walgreens

OAKLAND, CA — California's top prosecutor on Friday announced the state had reached a multi-billion dollar settlement with companies, including CVS and Walgreens, for their roles in the U.S. opioid crisis.

The $17.3 billion settlement also includes manufacturers Allergen and Teva, according to a news release from Attorney General Rob Bonta's office. Bonta called the settlement an "important milestone" in tackling the opioid epidemic in California.

"Nothing can bring back the lives lost or erase the suffering caused by this crisis, but we are making sure those who caused it and profited from it are held to account for their greed and willful misconduct," Bonta said in a statement. "These hard-fought and hard-won settlement funds will be critical in supporting victims and getting them the help they need to recover."

According to data from the Centers for Disease Control and Prevention, California reported more than 11,200 overdose deaths involving opioids in 2021, Bonta said.

Typically, money obtained in settlements is used to fight the opioid crisis, which has been linked to more than 500,000 deaths in the United States over the past two decades.

In recent years, most of the deaths have been connected to fentanyl and other illicit synthetic opioids, not prescription painkillers.

To date, the California Department of Justice has secured approximately $50 billion in settlements and expected settlements, including with opioid manufacturers Johnson & Johnson, Mallinckrodt, and Purdue Pharma L.P. and the Sackler family; distributors Cardinal Health, McKesson, and AmerisourceBergen; and consulting firm McKinsey & Company.