From [HERE] CVS Health Corp. CVS 2.30%increase; green up pointing triangle and Walgreens Boots Alliance Inc. WBA -1.24%decrease; red down pointing triangle have agreed to pay more than $10 billion in a landmark settlement to resolve opioid-crisis lawsuits brought by states, cities and other governments.

The two largest U.S. drugstore chains said they reached a framework to settle the collection of lawsuits brought by governments and Native American tribes blaming pharmacies for helping fuel the nation’s opioid epidemic.

Under the proposed deal, CVS would pay $4.9 billion to states and municipalities and $130 million to tribes over the next 10 years starting in 2023. The company said the agreement isn’t an admission of guilt and that it would continue to defend against any litigation that the settlement doesn’t resolve.

Walgreens said it has offered to pay up to $4.79 billion to states over 15 years and about $155 million to tribes. It also expects to pay up to $753.5 million in attorneys fees over six years. The company said the settlement wasn’t an admission of wrongdoing.

Each state, local government and tribe still must decide whether to participate in the settlement. Plaintiffs’ attorneys appointed to lead the negotiations said they encouraged governments and tribes to join the settlement, which they said holds the pharmacies accountable.

Cities and counties have said they would use the money to bolster social services focused on the harms of opioid addiction as well as for funds for first responders. There wouldn’t be direct payments to families or individuals. Unlike states’ landmark settlement with tobacco companies, the money couldn’t be redirected into general funds.

CVS Chief Executive Karen Lynch, on a call with analysts, said the settlement is in the “best interests of all parties and helps put a decades-old issue behind us.” She said she was optimistic that states would join the deal since attorneys general were part of the negotiations. [HERE]