Walgreens Stock Tumbles on DOJ Lawsuit Over ‘Millions’ of Alleged Illegal Prescriptions [Video]

Walgreens Boots Alliance (WBA) shares sank Tuesday, the first day of trading since the Department of Justice (DOJ) on Friday announced a lawsuit accusing the pharmacy chain of dispensing “millions of unlawful prescriptions” that had no legitimate medical purpose.

The suit alleges that Walgreens pressured its pharmacists to fill prescriptions quickly, leading to opioids and other medications being given out for prescriptions that had “clear red flags” indicating they were “highly likely to be unlawful.”

The DOJ accused Walgreens of filling prescriptions that had no medical backing, were invalid, or “were not issued in the usual course of professional practice” since roughly August 2012. The illegal prescriptions would violate the Controlled Substances Act, and any prescription for which Walgreens received compensation from federal health care programs would violate the False Claims Act.

Walgreens said Friday that it stands behind its pharmacists as the government works to put them in a “no-win situation.” The chain …