Item 8.01 Other Events.
CVS Health Corporation ("CVS Health") issued a press release today announcing
that it and its subsidiary CVS Pharmacy, Inc. ("CVS Pharmacy") have entered into
a settlement agreement with the State of Florida to resolve claims related to
prescriptions for opioid medications that were filled at CVS pharmacy locations
in Florida. Under the terms of the settlement agreement, CVS Health and CVS
Pharmacy will settle all opioid claims against them and their subsidiaries by
the State of Florida for $484 million, which is to be paid over a period of 18
years. Under the agreement, local municipalities within the State of Florida
have 30 days to determine whether they will join the settlement negotiated by
the State of Florida. At the conclusion of the 30-day period, CVS Health and CVS
Pharmacy have the option to not proceed with the settlement if they determine
that a sufficient number of municipalities have not agreed to join the
settlement. As a result of this settlement, CVS Health and CVS Pharmacy will no
longer be defendants in the State of Florida's opioid lawsuit that is scheduled
for trial in April 2022.
A copy of the press release is attached hereto as Exhibit 99.1 and incorporated
by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release, dated March 30, 2022 .
104 Cover Page Interactive Data File (embedded within the Inline XBRL).
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