US retail giant Walmart said it will pay $3.1 billion in a tentative settlement in lawsuits brought by state, local and tribal governments over the company’s role in the opioid crisis. Walmart announced the settlement framework in a statement released on Tuesday, offering to pay a fee equal to about 2 percent of its quarterly revenue, which AFP estimates is more than $150 billion. “Walmart believes the settlement framework is in the best interests of all parties and will provide significant assistance to communities across the country in combating the opioid crisis,” the statement said. “Walmart vigorously disputes the allegations in these matters and this settlement does not include any admission of liability.” The opioid crisis has been linked to nearly 700,000 deaths since 1999, according to the Centers for Disease Control and Prevention (CDC), and a number of pharmaceuticals and distributors have been sued over allegations that irresponsible policies fueled the crisis. More than 3,300 such lawsuits have been filed since 2017, resulting in more than $50 billion in settlement funds. The announcement came after two US drugstore chains, CVS and Walgreens, agreed to pay about $5 billion each to settle similar lawsuits earlier in November. Walmart’s trial settlement could be the last of its size by a major company, as several companies involved in the opioid crisis have already reached settlements. Walmart said in its statement that it has retained legal resources to defend itself against further lawsuits related to the crisis outside of the settlement. Forty-three states would have to approve Walmart’s plan by mid-December to finalize the settlement, and local governments could sign on by the end of March 2023. Each state’s allocation depends in part on how many local governments agree to the settlement . Some state authorities have said Walmart has been less reckless than other distributors in prescribing opioids. “Although Walmart filled significantly fewer opioid prescriptions than CVS or Walgreens, as of 2018 Walmart was the most proactive in tracking and controlling prescription opioid diversion attempted through its pharmacies,” said Attorney General Nebraska Doug Peterson in a statement. New York Attorney General Letitia James said in a statement that the settlement would also require Walmart to be subject to oversight to prevent fraudulent prescriptions and flag suspects. Opioids, especially the synthetic opioid fentanyl, continue to claim lives worldwide. In the US alone, more than 100,000 people died of overdoses last year, according to the CDC. Purdue Pharma, whose prescription pill OxyContin is widely blamed for sparking the addiction and overdose crisis, and its owners the Sackler family are seeking to resolve opioid claims against them through a $6 billion settlement in bankruptcy court.
