50 states sign up for Walmart's opioid settlement framework

New York(CNN) Walmart said it has reached settlement agreements with all 50 US states as part of a $3.1 billion nationwide opioid settlement announced last month.

In November, the retailer announced a settlement from multiple states' attorneys general that accused the company of failing to regulate opioid prescriptions contributing to the nationwide opioid crisis.

The settlement, according to the office of New York Attorney General Letitia James, who co-led a coalition of attorneys general in the negotiation, will also "include broad, court-ordered requirements Walmart must comply with, such as robust oversight to prevent fraudulent prescriptions and flag suspicious prescriptions."

In this week's announcement, Walmart (WMT) said that the agreements with the 50 states "are intended to resolve substantially all opioids-related lawsuits brought by state and local governments against Walmart."

"Walmart believes these settlements are in the best interest of all parties and will provide significant aid to communities across the country in the fight against the opioid crisis, with aid reaching state and local governments faster than any other nationwide opioid settlement to date, subject to satisfying all settlement requirements," the company said in the statement.

Walmart added that it "strongly disputes the allegations in these matters, and these settlements do not include any admission of liability."

"Promising negotiations," are still underway with other pharmacies including Walgreens (WBA) and CVS (CVS), James' office said last month. Those two chains have tentatively agreed to pay a combined $10 billion to settle lawsuits brought by states and local governments alleging the retailers mishandled prescriptions of opioid painkillers.

US states, cities and counties have filed more than 3,000 lawsuits against opioid manufacturers, distributors and pharmacies, accusing them of downplaying the addiction risk and failing to stop pills from being diverted for illegal use.

More than 500,000 overdose deaths over the past two decades -- including more than 80,000 in 2021 alone -- are blamed on the US opioid crisis, government data show, with an estimated 9.5 million Americans age 12 and older reported in 2020 to have misused opioids, including 9.3 million prescription pain reliever abusers and 902,000 heroin users.

-- CNN's Shawn Nottingham and Kristina Sgueglia contributed to this report.