- A lawyer for two Ohio counties said that CVS Health Corp (NYSE:CVS), Walgreens Boots Alliance Inc (NASDAQ:WBA), and Walmart Inc (NYSE:WMT) should fund an $878 million plan addressing the opioid crisis, writes Reuters.
- In November, a federal jury decided that the companies created a public nuisance by flooding Ohio's Lake and Trumbull counties with addictive prescription pain pills.
- Now, the counties want the companies to fund an $878 million five-year plan that Mark Lanier, a lawyer representing the counties, said was aimed at solving the opioid crisis rather than allocating blame.
- CVS, Walgreens, and Walmart have denied the counties' claims and said they would appeal the November verdict.
- Related: Walgreens Announces $683M Opioid Settlement With Florida.
- The companies have offered to fund a one-year program to buy back unused prescription opioid drugs in the two counties.
- They argue that Ohio's public nuisance law only requires them to stop an oversupply of prescription drugs - and not address all of its harmful effects on the communities.
- The companies argued that if they must do more than repurchase drugs, they should not be forced to cover costs related to illegal drug use.
- Price Action: CVS shares are down 0.16% at $98 on the last check Wednesday.
