Walgreens in $230M opioid settlement with San Francisco

• San Francisco City Attorney David Chiu announced Wednesday that Walgreens Boots Alliance (NASDAQ:WBA) agreed to pay $230M to settle allegations that the pharmacy chain contributed to the city’s opioid crisis.
• The deal comes after a federal judge ruled in August that Walgreens (WBA), the largest pharmacy chain in San Francisco, helped fuel the opioid epidemic in the city by failing to take adequate steps to stem suspicious orders for opioids.
• In October, the attorneys for San Francisco argued that the company is liable for the entire $8B estimated for a 15-year plan to address the opioid crisis in the city.
• “The opioid epidemic has wreaked havoc in San Francisco and the nation, but this settlement ensures that Walgreens is held accountable for their role in the opioid crisis on our streets,” Chiu said.

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