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Walmart settles U.S. government's opioid lawsuit
CNBC • • business
Key Points:
- Walmart has settled a U.S. government lawsuit accusing it of unlawfully dispensing opioid prescriptions, contributing to the nationwide opioid epidemic, with terms of the settlement undisclosed.
- The Justice Department accused Walmart of violating the Controlled Substances Act since 2013, potentially facing billions in civil penalties prior to the settlement.
- The lawsuit was among the most significant against a single company related to the opioid crisis, alongside cases involving Purdue Pharma and drug wholesaler Cencora.
- In March 2024, a judge narrowed the case by dismissing some claims but allowed others related to dispensing invalid prescriptions to proceed before the settlement.
- Walmart expressed satisfaction with resolving the matter and reaffirmed its commitment to patient care, while its shares rose 0.5% following the announcement.
