CVS reaches $484M opioid settlement with Florida

CVS Health on March 30 said it has reached a $484 million agreement with the state of Florida to resolve all claims related to opioid prescriptions at its pharmacies. 

The settlement will be paid over an 18-year period, and Florida will use the money to support initiatives that combat opioid addiction and abuse, according to a news release. 

Under the agreement, CVS will no longer be a defendant in Florida's opioid lawsuit, which is scheduled for trial in April. CVS was one of several defendants named in a case brought by Florida's attorney general that alleges the companies inflated supply and demand for opioids, creating "illegitimate demand for dangerous opioids while unlawfully increasing the supply of opioids to meet that demand," The Wall Street Journal reports. 

"Putting these claims behind us is in the best interest of all parties and helps sharpen focus on delivering a personalized, connected healthcare experience for the millions of consumers who rely on us," said Thomas Moriarty, chief policy and external affairs officer and general counsel of CVS Health. "We look forward to continuing our longstanding partnership with the state of Florida in providing programs, services and solutions to reduce the illegitimate use of opioid medications." 

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