Key takeaways:
- McKinsey & Co. has agreed to pay $78 million to settle claims from health insurers and benefit plans that it helped fuel the opioid addiction crisis in the United States.
- The settlement includes a fund to reimburse insurers, private benefit plans and others for some or all of their prescription opioid costs.
- The settlement marks the last in a series of settlements McKinsey has reached resolving lawsuits over the U.S. opioid epidemic.
A leading global consulting firm, McKinsey & Co., has agreed to pay $78 million to settle claims from health insurers and benefit plans that it helped fuel the opioid addiction crisis in the United States.
The plaintiffs accused McKinsey of helping drug manufacturers, including Purdue Pharma, the maker of OxyContin, design deceptive marketing plans and boost sales of painkillers. The insurers argued that McKinsey worked with Purdue Pharma to create and employ aggressive marketing and sales tactics to overcome doctors’ reservations about the highly addictive drugs.
McKinsey previously paid $641.5 million to resolve claims by state attorneys general and another $230 million to resolve claims by local governments. Under the agreement, McKinsey would establish a fund to reimburse insurers, private benefit plans and others for some or all of their prescription opioid costs.
The opioid crisis has had a devastating impact on the United States, with over 400,000 people dying from opioid-related overdoses since 1999. The settlement is a step in the right direction to help address the crisis, but more needs to be done to ensure that those affected by the crisis get the help they need.
The settlement marks the last in a series of settlements McKinsey has reached resolving lawsuits over the U.S. opioid epidemic. It is hoped that the settlement will help to bring some closure to the families and communities affected by the crisis.
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