WEST VIRGINIA ANNOUNCES SETTLEMENT WITH WALMART, CVS PHARMACIES

Two settlements have been reached with Walmart and CVS pharmacies and the state of West Virginia, amounting to more than $147 million to resolve lawsuits that alleged the pharmacies failed to maintain effective controls as a distributor and dispenser against diversion that contributed to oversupply of opioids in the state. Walmart agreed to a settlement of just over $65 million; CVS settled for $82.5 million. The CVS deal comes with a 2.25% Most Favored Nation protection-a guarantee that West Virginia won’t be prejudiced by a future national settlement. The money from all opioid settlements will be distributed under the terms of the West Virginia First Memorandum of Understanding, which is an agreement with the state on how future settlement dollars would be used to abate the opioid crisis throughout the state.