Walgreen has agreed to pay $4 billion in fines for overcharging the FDA, agreeing to reimburse its customers for a portion of the cost of drug-degradication treatments and to spend $1.2 billion on programs to prevent people from taking unnecessary drugs, the company said.
Walgros’ efforts to reduce the use of prescription painkillers, which are often prescribed to treat conditions such as cancer, heart disease and arthritis, will be partially funded by the FDA.
The FDA will pay about $500 million over the next three years to reimburse Walgens for the costs associated with the use and misuse of the medications, including prescriptions, the Wall Street News reported.
The company said it will spend $500 to $1 million on a “comprehensive risk reduction program” and $1 billion to help its drug stewardship program.
In an emailed statement, the pharmacy chain said it is “a responsible, innovative company that shares our customers’ desire to live a healthier life.”
The $4 million fine is the largest fine imposed on Walgess by the federal government.
In a statement, Walgrees spokesman Mike Glynn said the company “will continue to work to reduce its use of addictive prescription medications and its use in people who cannot pay.”
“Our goal is to provide an effective solution that protects the health and well-being of our customers, while protecting our bottom line,” he said.
“We are committed to taking the necessary steps to ensure the safety of our brand and the health of our community, and we are committed that we will always work to achieve that goal,” he added.
Walgreens has been fined $7.5 billion by the US government and $8.2 trillion by other countries for its overprescription of prescription drugs.