US Jury Finds Pharmacy Chains Did Not Monitor Opioid Usage, Thus Fueling Epidemic: Reuters

Jurors in Cleveland federal court have determined that pharmacy chain operators CVS Health Corp (NYSE: CVS), Walgreens Boots Alliance Inc (NASDAQ: WBA), and Walmart Inc (NYSE: WMT) helped fuel the opioid epidemic in two counties in Ohio, Reuters reports.

• The jurors concluded that the companies helped create a public nuisance through an abundant supply of pain killers and diversion of those drugs to the black market.
• Mark Lanier, a lawyer for Ohio's Lake and Trumbull counties, called the verdict a "landmark decision" that paved the way for them to seek more than $1 billion.
• U.S. District Judge Dan Polster will decide how much the companies owe to abate the epidemic in the counties and is expected to hold a trial in April or May.
• CVS, Walgreens, and Walmart said they would appeal the verdict. They argued that it ran contrary to the facts and misapplied public nuisance law to hold them liable.
• Related Link: McKesson, Cardinal Health, AmerisourceBergen Face $95B Opioid Trial In Washington: Reuters.
• Price Action: CVS shares are down 1.22% at $92.50, WBA stock is down 2.03% at $46.43, while WMT shares are up 0.30% at $146.24 during the market session on the last check Wednesday.