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AP National Business

CVS Health tops forecasts, reserves billions for settlement

KTVZ
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Published 3:46 AM

By TOM MURPHY
AP Health Writer

CVS Health booked a third-quarter loss of more than $3 billion after setting aside money for a potential opioid litigation settlement but still beat expectations and raised its 2022 forecast. The health care giant detailed a planned nationwide settlement of lawsuits over how it has handled prescriptions for powerful painkillers linked to an overdose epidemic. The company set aside $5.2 billion in the quarter to cover payments over 10 years under a deal that, if accepted, would be one of the largest settlements over the crisis. In the quarter, CVS Health saw sales grow in all three of its businesses.

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