Pharmaceutical giant CVS, along with three other companies settled with Florida for more than $878 million on Wednesday. This settlement averted a trial against these companies next month on the role they played in fueling the opioid epidemic in the state.
The Florida lawsuit is one of the 3,300 claims filed across the nation accusing drugmakers of failing to reduce addiction risks on opioid medications.
How much do the companies have to pay?
The settlement includes $484 million from CVS, $194.8 million from Teva Pharmaceutical Industries Ltd, $134.2 million from Abbvie Inc. and $65 million from Endo International Plc.
In addition to the settlement, Teva will also provide $84 million worth of Narcan nasal spray—whose primary function is to temporarily reduce the effects of opioid overdose.
Similar settlements
West Virginia also ended the opioid lawsuit with a similar $26 million settlement on Wednesday. Teva recently reached an agreement to settle the opioid-related claims in Rhode Island ($107 million) and Texas ($225 million).