Central Oregon DailyAG: Oregon to get $135 million from CVS, Walgreens in opioid settlement

AG: Oregon to get $135 million from CVS, Walgreens in opioid settlement

AG: Oregon to get 5 million from CVS, Walgreens in opioid settlement

AG: Oregon to get $135 million from CVS, Walgreens in opioid settlement

The state of Oregon is in line to receive a share of a $10.7 million combined national settlement from CVS and Walgreens related to the opioid epidemic. Oregon’s share of that will be more than $135 million.

Oregon Attorney General Ellen Rosenblum announced Monday that CVS will pay $5 billion and Walgreens will pay $5.7 billion. But a certain number of states must sign onto the agreements for the full amount to be paid out, the AG’s office said.

Oregon stands to receive up to $65.4 million from CVS and $70.9 million from Walgreens, the AG’s office said. 

That’s in addition to a national $3 billion settlement with Walmart in November. Of that, Oregon could get nearly $36.9 million.

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“Pharmacies were a key link in the supply chain that contributed to the greatest drug-induced public health crisis in modern America. This may seem like a lot of money—and it is— but compared to the harm caused by America’s largest pharmacy chains, it barely scratches the surface,” Rosenblum said in a statement.

Payments could begin as early as the second half of 2023. All of Walmart’s payment is expected in the first year while CVS’s payments will be spread out over 10 years and Walgreens’ over 15 years.

CVS and Walgreens have also agreed to court-ordered requirement the pharmacies to monitor, report, and share data about suspicious activity related to opioid prescriptions,” the AG’s office said.

There is some fine print to this, according to the AG’s office.

“The terms of these agreements will now go to the states for their review. Each state will have until the end of 2022 to join, after which the Walmart, Walgreens, and CVS agreements will go to local governments around the country for sign-on during the first quarter of 2023. A sufficient percentage of states and local governments must join the settlements for them to go into effect,” the statement reads.

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