Commonwealth of Virginia
Office of the Attorney General
Jason S. Miyares
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Richmond, Virginia 23219
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Attorney General Miyares Secures Over $10 Billion in Opioid Funds from CVS and Walgreens
~ Virginia could potentially receive $108.8 million from CVS, $117.4 million from Walgreens, pending the total number of states and satisfaction of incentive requirements~
RICHMOND, VA – Attorney General Jason Miyares today announced that he has finalized agreements with CVS and Walgreens to bring the national amount from investigations and litigation against the pharmaceutical industry for its role in the opioid crisis to more than $50 billion. Under today's agreements, CVS will pay $5 billion, and Walgreens will pay $5.7 billion, totaling $10.7 billion.
"Thousands of Virginians are struggling with opioid addiction. These opioid settlement funds play an important role in providing resources to fight back against the epidemic, including prevention practices, harm reduction, and treatment services,” said Attorney General Miyares.
In addition to the financial settlement, CVS and Walgreens, along with Walmart previously, have agreed to court-ordered injunctive relief that requires the pharmacies to monitor, report, and share data about suspicious activity related to opioid prescriptions. This court-ordered injunctive relief will help ensure a crisis like this does not happen again.
The terms of this agreement will now go to the states for their review. Each state will have until the end of 2022 to join, after which the Walmart, Walgreens, and CVS agreements will go to local governments around the country for sign-on during the first quarter of 2023. The payments are structured to ensure critical support in early years as well as sustained resources over time. Most of Walmart's amount will be paid during the first year; CVS's payments will be spread over 10 years; Walgreens' payments will be spread over 15 years.
The negotiations have been led by Attorneys General from North Carolina, California, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Nebraska, New York, Ohio, Pennsylvania, Rhode Island, Tennessee, and Texas.