USA: Walmart ordered to pay 3.1 Billion Dollars for charges of selling opiates in its stores

A Walmart store
A Walmart store

For almost 20 years the overprescription of opiates led to a crisis and caused more 500 000 dead.

American justice of Walmart supermarkets condemned for paying 3,1 billions of dollars in the United States to end lawsuits by states and communities for its role in the opioid crisis in the United States.

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This Tuesday 15 November, the opiate deal announced that its quarterly results, resulted in a charge of 3,3 billions of dollars in company accounts, which led to a net loss of 1,8 billion for the period from August to October.

However, its business held up well and, by not taking into account this exceptional element, the supermarket chain delivered results above expectations. Its turnover increased by 8,7 % to reach 152,8 billions of dollars.

Neil Saunders of GlobalData noted , This progression clearly shows that the company's positioning around low prices attracts customers.

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 According to his data, Walmart is gaining market share with all households, including the highest income

For this reason , Walmart denies accusations of its role in this crisis and stresses that the agreement does not include any admission of liability.

 The group believes that settling the lawsuits is “in the best interest of all parties”.

The owner of this company, Doug McMillon underlined , during a conference call,  “The cost of everyday items remaining stubbornly high in too many categories, more and more customers are choosing us for our prices and product range”

By tale, although the trend has reversed since 2016, these drugs have been addictive and caused some patients to turn to drugs like heroin and fentanyl.

This crisis has given rise to myriad proceedings against companies, which are gradually being resolved.

In addition to the money paid, the company is committed to better monitoring prescriptions to avoid fraud and suspicious prescriptions.

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In a press release , New York Attorney General Letitia James , let it be known: “Pharmacies such as Walmart have played an undeniable role in perpetuating the destruction wrought by opiates”,

SO, the company ,Walmart, now expects an increase in turnover of 5,5 % for its accounting year, which ends at the end of January, against 4,5 % previously.

By the way, the company is expecting a decline in operating profit of 6,5 % To 7,5 %, which is less than the fallback of 9 % To 11 % planned so far.

Walmart warned this summer that its margins would be eroded this year by inflation, which weighs on the budget of its customers.

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USA: Walmart ordered to pay 3.1 Billion Dollars for charges of selling opiates in its stores