McKinsey to pay $573 mln to settle claims for involvement in opioid crisis
Consultancy McKinsey has agreed with states to pay $573 million to settle claims it helped pharmaceutical companies market opioid painkillers.
Reuters’ Nate Raymond reported:
Consulting firm McKinsey & Co has agreed to pay at least $573 million to resolve claims by 40-plus U.S. states related to its role in the opioid epidemic and advice it gave to OxyContin maker Purdue Pharma, according to a person familiar with the matter.
The settlement is with 43 states, the District of Columbia and three territories, the person said on Wednesday. Several attorneys general said they planned announcements on the opioid epidemic on Thursday.
Michael Forsythe and Walt Bogdanich from The New York Times wrote:
McKinsey’s extensive work with Purdue included advising it to focus on selling lucrative high-dose pills, the documents show, even after the drugmaker pleaded guilty in 2007 to federal criminal charges that it had misled doctors and regulators about OxyContin’s risks. The firm also told Purdue that it could “band together” with other opioid makers to head off “strict treatment” by the Food and Drug Administration.
The Wall Street Journal’s Sara Randazzo and Jonathan Randles noted:
McKinsey said last week it is cooperating with government agencies on matters related to its past work with opioid manufacturers, as state and local governments sue companies up and down the opioid supply chain. At least 400,000 people have died in the U.S. from overdoses of legal and illegal opioids since 1999, according to federal data.
The consulting firm stopped doing opioid-related work in 2019 and said in December its work for Purdue was intended to support the legal use of opioids and help patients with legitimate medical needs.