The Latest Breaking News from Walgreens

NEW YORK — Walmart agreed to pay $3.1 billion to resolve lawsuits accusing the pharmacy of selling drugs that contributed to the opioid epidemic, but denied the allegations and didn’t admit liability.

Walmart said that the proposed framework "does not include any admission of liability."

Chicago-based VillageMD, which has primary care clinics in Walgreens stores across the country, will pay $8.9 billion to acquire a company that will help it to branch into specialty and urgent care and grow its footprint dramatically.

The two largest US pharmacy chains, CVS Health and Walgreen Co., announced agreements in principle on Wednesday to pay about $5 billion each to settle lawsuits nationwide over the toll of opioids, and a lawyer said Walmart, a third pharmacy behemoth, is in discussions for a deal.

The deals mean CVS and Walgreens will pay more than $10bn for their roles in the US opioid crisis.

CVS and Walgreens have agreed in principle to pay a total of about $10 billion to settle lawsuits over the toll of powerful prescription opioids.

Reuters

CVS Health Corp., Walgreens Boots Alliance Inc. and Walmart Inc. have tentatively agreed to pay more than $12 billion to resolve thousands of state and local government lawsuits accusing the chains of mishandling opioid painkillers, according to people familiar with the matter.

Drug store stock CVS Health (CVS) outperformed Walgreens (WBA) over the past year. Moreover, Wall Street analysts expect CVS to see a better upside than WBA in the upcoming months because of its stronger fundamentals. So, it appears to be a better buy now. Keep reading….