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Home / Insurance / McKinsey pays $ 573 million to settle opioid claims: Source

McKinsey pays $ 573 million to settle opioid claims: Source



(Reuters) – The consulting firm McKinsey & Co. has agreed to pay at least $ 573 million to resolve allegations from 40-plus U.S. states related to its role in the opioid epidemic and advice it gave to OxyContin maker Purdue Pharma LP, 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 lawyers said they planned announcements about the opioid epidemic on Thursday.

They included Vermont's attorney, T.J. Donovan, whose office said it would announce its participation in the first multi-state opioid deal "to lead to significant payments to states to address the epidemic." settlement with McKinsey, which was at the top of the reported multi-state agreement.

McKinsey did not respond to a request for comment.

McKinsey was previously under scrutiny for his role as an adviser to Purdue Pharma and the wealthy Sackler family that owns the drug manufacturer.

A lawsuit filed by Massachusetts Attorney General Maura Healey claimed that McKinsey advised Sacklers on how to "turbocharge" opioid sales.

Purdue filed for bankruptcy in 201

9 as part of a proposed $ 10 billion settlement to resolve lawsuits alleging its marketing of painkillers helped stimulate the epidemic.

More than 3,200 lawsuits are pending to try to hold drug manufacturers, distributors and pharmacies responsible for an opioid addiction epidemic that, according to US government data, resulted in 450,000 deaths from overdose from 1999 to 2018.

to ignore red flags indicating that prescription painkillers are being redirected for misuse. They deny wrong.

States and local governments have also been negotiating settlements with drug distributors Cardinal Health Inc., McKesson Corp. and Amerisourcebergen Corp. and pharmaceutical manufacturer Johnson & Johnson.

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