Walmart agrees to $3.1 billion settlement over opioid lawsuits

Key Facts

MoneyWatch November 15, 2022 / 10:21 AM / CBS/AP Walmart has agreed to a $3.1 billion legal settlement over the toll of powerful prescription opioids sold at its pharmacies, marking the latest major drug industry player to promise major support to state, local and tribal governments still grappling with a crisis in overdose deaths.
With the crisis still raging, the focus is now on how the settlement dollars — totaling more than $50 billion — will be used and whether they will help curtail record numbers of overdose deaths, even as prescription drugs have become a relatively small portion of the epidemic.
"Walmart believes the settlement framework is in the best interest of all parties and will provide significant aid to communities across the country in the fight against the opioid crisis, with aid reaching state and local governments faster than any other nationwide opioid settlement to date," the company said in a statement.
James said that she is "optimistic" that the settlement will receive the support of the required 43 states by the end of 2022, allowing local governments to join in the settlement in early 2023.