What is the lawsuit against CVS and Walgreens?
Asked by: Ms. Kavon Cremin Sr. | Last update: March 5, 2025Score: 4.6/5 (9 votes)
What's going on with CVS and Walgreens?
CVS and Walgreens are ailing. They're closing hundreds of stores, laying off thousands of workers and rethinking their role in our lives. MICHEL MARTIN, HOST: America's biggest pharmacy chains are not healthy.
What is the CVS lawsuit about?
The US Department of Justice announced a lawsuit on Wednesday accusing pharmacy chain CVS of filling illegal opioid prescriptions and billing federal health insurance programs, contributing to a nationwide epidemic of opioid addiction and overdose.
What is the Walgreens lawsuit about?
The government's complaint alleges that, from approximately August 2012 through the present, Walgreens knowingly filled millions of prescriptions for controlled substances that lacked a legitimate medical purpose, were not valid, and/or were not issued in the usual course of professional practice.
Why is CVS and Walgreens closing so many stores?
Like many major retailers, America's largest pharmacy chains—Walgreens, Rite Aid and CVS—are shutting down hundreds of stores nationwide as they navigate a storm of financial pressures, changing consumer behavior and intensified competition from e-commerce giants like Amazon.
CVS and Walgreens opioid settlements
Is CVS going out of business in 2024?
Your local CVS may be closing its doors for good. The drugstore chain is in the process of shuttering "roughly 300" locations across the country in 2024, a spokesperson confirmed to Good Housekeeping. That includes the dozens of pharmacies in Target stores.
What is going on with Walgreens pharmacy in 2024?
The thinning of Walgreens locations has been in the works. Walgreens said in October 2024 it planned to close about 1,200 underperforming stores across the U.S. as a strategy to offset declining profits resulting from low drug reimbursement rates and sluggish retail sales.
Is Walgreens pharmacy in trouble?
Drug stores around the United States are struggling. Especially Walgreens. Walgreens' stock has plunged more than 80% over the past five years, ranking the company among the worst-performing stocks during that stretch. It's closing 1,200 stores, roughly 15% of its locations.
How to get money from Walgreens lawsuit?
To receive the additional eligible payment, you will need to submit a valid claim form. The claim form is included with this Notice and can be submitted via regular mail or via the Settlement Website (Online Claim Submission). You must submit your claim form by Thursday, May 23, 2024.
Did Walmart buy Walgreens?
No. Walgreen's was founded by Charles Walgreen in the early 1900's. Walmart was founded by Sam Walton in the 1950's.
Why are CVS closing down?
Why are the pharmacies closing? CVS spokesperson Amy Thibault told USA Today that the closures are caused by changes in population and consumer buying patterns.
Who owns CVS now?
CVS Health Corporation is an American for-profit healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The company is the world's second largest healthcare company, behind UnitedHealth Group.
What is the CVS lawsuit about expired items?
CVS has now agreed to pay $6.5 million in penalties for allegedly selling expired items for four years, which included baby food and formula, as well as other over-the-counter drugs.
What is the real reason Walgreens is closing?
Walgreens is closing more locations. Walgreens is closing approximately 1,200 locations as the drug store chain struggles to contend with online competitors and declining prescription drug payments. By 2027, about one in seven Walgreens currently open will close its doors.
Why is CVS having trouble?
Over the last few years, CVS has struggled with declining profit margins at its retail pharmacies, as well as rising costs of patient care through its insurance unit Aetna, which generates around a third of the company's revenue. So far, CVS has cut its 2024 earnings forecast for three straight quarters.
Why are so many pharmacists leaving CVS?
Pharmacists say CVS is understaffing and overworking them
And while a number of harassment cases noted in the report cite customers as the source of verbal or emotional harassment, the majority of them identified the harassers as managers and/or supervisors.
How much will I get from the Walgreens settlement?
Under the terms of the Walgreens Prescription Savings Club settlement, class members can receive a cash payment based on the amount they paid for eligible prescription drugs during the class period. Individual claimants will receive a proportional share of 20% of the net settlement fund.
Is there a class action lawsuit against Walgreens?
Walgreens, which is accused of charging some customers more for generic drugs, agreed to a $100 million settlement deal last fall, according to a Nov. 1, 2024 court filing.
How do I get my money back from Walgreens?
Bring the product, along with the receipt or order number, and payment method (if applicable) to any Walgreens store within 30 days of purchase date for immediate credit to your credit card account or by cash if you paid via check or PayPal. Taxes will be refunded at your local rate.
What is the Walgreens scandal?
Walgreens settles allegations of fraudulent billing with DOJ. The Illinois-based pharmacy giant has agreed to pay almost $107 million to settle claims it billed Medicare, Medicaid and other government programs for prescriptions that were never dispensed.
Are CVS and Walgreens closing?
CVS is closing 900 stores. Rite-Aid is closing 500. Walgreens announced Tuesday it plans to close 1,200 stores, meaning 1 in 7 will disappear.
Why is Walgreens dropping?
Walgreens has struggled lately due to declining prescription reimbursements and rising competition from Amazon and other discount stores.
Who is buying out Walgreens?
Walgreens is reportedly exploring selling itself to private equity firm Sycamore Partners. It might be the right decision for the company, some experts say.
Why is Walgreens always next to CVS?
By being next to each other, they create a one-stop hub for consumers who need to fill prescriptions, buy health essentials, or grab some snacks and toiletries. Their competitive proximity often leads to both businesses thriving rather than one knocking the other out.
Why is Walgreens pharmacy more expensive?
Brick-and-mortar pharmacies like Walgreens and CVS need to pay additional charges to insurers and middlemen, which can hike the overall prescription price.