Walgreens Faces Lawsuit Over Alleged Opioid Misprescription Practices

DEERFIELD, Ill. — Walgreens Boots Alliance is embroiled in a legal battle after a lawsuit accused the pharmacy giant of unlawfully dispensing millions of prescriptions without legitimate medical justification. The company’s shares plummeted 9.2% on Tuesday, marking the steepest decline among S&P 500 stocks.

The lawsuit alleges that Walgreens pressured its pharmacists to fill prescriptions rapidly, leading to the improper distribution of opioids and other medications. The company has denied the allegations, calling the lawsuit an attempt to enforce arbitrary rules that lack a legal foundation. “We will not stand by and allow the government to put our pharmacists in a no-win situation,” Walgreens stated in a press release.

Walgreens emphasized its commitment to combating opioid misuse, citing its long-standing efforts to provide education, resources, and best-in-class policies. The company also highlighted the professionalism of its pharmacists, who are licensed and operate in compliance with all applicable laws and regulations.

The legal challenge comes amid broader scrutiny of the pharmaceutical industry’s role in the opioid crisis, which has claimed hundreds of thousands of lives in the U.S. over the past two decades. Walgreens has pledged to defend its pharmacists and practices in court, asserting that the allegations misrepresent its operations.

Meanwhile, the broader market saw gains on Tuesday, with the S&P 500 rising 0.9% and the Dow Jones Industrial Average climbing 1.2%. The Nasdaq Composite also advanced 0.6%, buoyed by strong performances in the industrials and technology sectors.

In other market news, shares of Vistra surged 8.5% after authorities lifted evacuation orders related to a fire at one of its California plants. Oracle shares rose 7.2% following reports of its participation in a $500 billion AI infrastructure initiative. Prologis, a logistics-focused company, saw its shares jump 7.1% after reporting better-than-expected earnings, driven by increased demand for warehouse space.

However, not all companies fared well. Booking Holdings, an online travel platform operator, saw its shares drop 4.9% amid concerns about competition and reliance on lead generation. First Solar shares also slipped 4.9% due to challenges in international markets and uncertainty surrounding renewable energy policies under the new administration.