For nearly 20 years, the overprescription of opiates led to a crisis and caused more than 500,000 deaths.
American supermarket Walmart has been ordered to pay $3.1 billion to the United States to end lawsuits brought by states and communities for its role in the opioid crisis in the United States.
This Tuesday, November 15, the Opioid Accord announced that its quarterly results resulted in a charge of $3.3 billion in the company's 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 generated results above expectations. Its turnover notably increased by 8.7% to reach 152.8 billion dollars.
Neil Saunders of GlobalData noted, This progression clearly shows that the company's positioning around low prices attracts customers.
According to its data, Walmart is gaining market share among all households, including those with the highest incomes
As a result, the Walmart company denies the accusations about its role in this crisis and emphasizes that the agreement does not include any admission of responsibility.
The group believes that settling the lawsuits is “in the best interest of all parties.”
The boss of this company, Doug McMillon, pointed out during a conference call that, “As the cost of everyday items remains stubbornly high in too many categories, more and more customers are choosing us for our prices and our range of products”
However, even though the trend has reversed since 2016, these medications have created dependencies and pushed some patients to turn to drugs like heroin and fentanyl.
This crisis has given rise to myriad procedures against companies, which are gradually being resolved.
In addition to the money paid, the company committed to better monitoring prescriptions to avoid fraud and suspicious prescriptions.
In a statement, New York Attorney General Letitia James said: “Pharmacies like Walmart have played an undeniable role in perpetuating the destruction caused by opioids.”
Therefore, the company, Walmart, now expects an increase in its turnover of 5.5% for its accounting year, which ends at the end of January, against 4.5% previously.
Furthermore, the company expects a drop in its operating profit of 6.5% to 7.5%, which is less than the decline of 9% to 11% forecast so far.
Walmart warned this summer that its margins would be cut this year by inflation, which is weighing on its customers' budgets.
USA: Walmart ordered to pay $3.1 billion for charges related to the sale of opiates in its stores
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