CVS Health tops forecasts, reserves billions for settlement

Published November 2, 2022 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.

Article Topic Follows: AP National Business

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