Business & Tech
Walgreens to Pay $80 Million to End DEA Investigation
U.S. Drug Enforcement Administration concluded that poor drug handling at Walgreens' Florida-based distribution center made it a public safety threat, according to Bloomberg Businessweek.
Deerfield-based Walgreens, under investigation by the DEA over allegations company officials allowed prescription painkillers like oxycodone to be filled for illegal use, has agreed to pay $80 million to end the probe, reported Bloomberg Businessweek.
The company expects the total impact of the agreement and other associated costs to be 4 to 6 cents per share in its third fiscal quarter, according a Walgreens press release.
The agreement also resolves all pending litigation and requires Walgreens to surrender its DEA registrations at six of its more than 800 Florida pharmacies until May 2014 and at its Jupiter, Fl., distribution center until Sept. 2014.
“As the largest pharmacy chain in the U.S., we are fully committed to doing our part to prevent prescription drug abuse," stated Kermit Crawford, president of pharmacy, health and wellness, in a press release.
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