Josh Stein, the attorney general of North Carolina, who is on the executive committee of states handling the negotiations, confirmed the tentative deal, saying, “While significant work remains, a broad coalition of states, in cooperation with lawyers representing the subdivisions, is making progress in our negotiations with CVS and Walgreens, and we are hopeful that we will be able to reach a final agreement on all terms.”
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A person familiar with the negotiations said that Walmart had agreed to pay $3.1 billion in settlement negotiations. The company declined to comment.
Both CVS and Walgreens said that the agreements represented no admission of wrongdoing on their part.
CVS said that over the next 10 years, it would pay $4.9 billion to states and municipal governments and about $130 million to tribes under the agreement.
“We are pleased to resolve these longstanding claims, and putting them behind us is in the best interest of all parties, as well as our customers, colleagues and shareholders,” said Thomas Moriarty, the chief policy officer and general counsel for CVS Health. “We are committed to working with states, municipalities and tribes, and will continue our own important initiatives to help reduce the illegitimate use of prescription opioids.”