A huge opioid settlement dragged Walgreens to a $3.7 billion loss for the first quarter, but the drugstore chain still beat Wall Street forecasts.
FILE - The Walgreens logo on the front of a store, July 14, 2021, in Cambridge, Mass. A huge opioid settlement dragged Walgreens to a $3.7 billion loss in its fiscal first quarter, but the drugstore chain still beat Wall Street forecasts. The company also reaffirmed its earnings forecast for the new year. Walgreens said Thursday, Jan. 5, 2023 that it recorded a $5.2-billion, after-tax charge in the quarter that ended November 30 for opioid-related litigation.
Walgreens said Thursday that it recorded a $5.2 billion, after-tax charge in the quarter that ended Nov. 30 for opioid-related litigation. Drugstores were subject to claims that they should have realized they were filling too many opioid prescriptions.
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