logo
  

CVS Health To Resolve All Opioid Lawsuits, Claims; To Pay Approx. $5 Bln Over Ten Years

CVS Health (CVS) has agreed in principle to a financial resolution to resolve all opioid lawsuits and claims against the company by states, political subdivisions in the U.S. The company has agreed it will pay approximately $5 billion over the next ten years beginning in 2023.

CVS Health noted that the timing of cash settlement payments, spread over multiple years, allows the company to continue to invest in its strategic priorities.

Thomas Moriarty, Chief Policy Officer and General Counsel, CVS Health, said: "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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Integrated energy company Chevron reported Friday that profit for the fourth quarter increased 25 percent from last year, reflecting 17 percent revenue growth amid higher realizations and higher margins on refined product sales. Adjusted earnings per share missed analysts' estimates, while quarterly revenues topped it. Reno, Nevada-based ZLINE Kitchen and Bath has expanded its recall of gas ranges citing serious risk of injury or death from carbon monoxide poisoning, the U.S. Consumer Product Safety Commission announced. The recall now includes about 30,000 units of ZLINE gas ranges, including about 28,000 units... The Food and Drug Administration's independent advisory committee unanimously recommended replacing the current original COVID vaccines used in the U.S. for primary shots with new bivalent omicron shots authorized as boosters, reports said. The committee also considered the proposal for annual COVID vaccination, however, didn't vote on it.
Follow RTT