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Kroger to Pay $1.2 Billion to Settle Opioid Crisis Claims

  • Kroger agrees to pay $1.2 billion settlement over opioid crisis claims related to its retail pharmacies
  • Settlement comes after similar deals made by competitors Walgreens, CVS, Walmart and Rite Aid
  • Kroger accused of improperly monitoring and overprescribing highly addictive painkillers
  • Settlement money to help fund services for opioid abuse victims and purchase overdose reversal drugs
  • Kroger merger with Albertsons still moving forward despite settlement; plans to divest 400+ stores for antitrust concerns
nytimes.com
Relevant topic timeline:
Major opioid manufacturer Mallinckrodt Pharmaceuticals will reduce its settlement payments to victims of the opioid crisis by $1 billion through a bankruptcy plan, cutting the amount promised from $1.7 billion to $700 million.
Kroger leads the S&P 500 after announcing a $1 billion settlement for opioid claims and the sale of over 400 stores.