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McKinsey to pay $573M in opioid settlement

By Brian Buntz | February 4, 2021

McKinseyThe prestigious consulting firm McKinsey has struck a deal with 47 states over its role in the opioid crisis. 

Notably, the company had advised OxyContin manufacturer Purdue Pharma (Stamford, Conn.) on “turbocharging” opioid sales. The pharma company had worked with McKinsey for 15 years. 

The Justice Department concluded that McKinsey helped manage a Purdue Pharma sales program known as “Evolve to Excellence” that pushed medically questionable OxyContin prescriptions.

There is no admission of wrongdoing in the McKinsey settlement, but the firm will publicly share tens of thousands of pages of documents linked to its opioid work. 

“With this agreement, we hope to be part of the solution to the opioid crisis in the U.S.,” said Kevin Sneader, global managing partner of McKinsey, in prepared remarks. 

Sneader also apologized for the firm’s role in the opioid crisis while also maintaining that the firm’s past work with opioid makers was lawful.

The company has also reaffirmed its prior commitment to not advise clients on opioid-related projects anywhere in the world, according to a statement on McKinsey’s website. 

The firm also fired two partners who had recommended deleting documents related to its work with Purdue Pharma. 

Some $478 million of the McKinsey settlement has been earmarked for state programs to treat and prevent opioid addictions. 

Last year, Purdue pleaded guilty to three federal felonies related to its role in fueling the opioid crisis.

Other notable companies could be on the hook for even more than McKinsey. McKesson, for instance, could pay $8 billion to settle opioid lawsuits.

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at bbuntz@wtwhmedia.com.

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