Geoff Mulvihill
FILE - This Feb. 19, 2013, file photo shows OxyContin pills arranged for a photo at a pharmacy in Montpelier, Vt. The global business consulting firm McKinsey & Company has agreed to a $573 million settlement over its role in the opioid crisis, according to a person with knowledge of the deal. An announcement is expected Thursday, Feb. 4, 2021. (AP Photo/Toby Talbot, File) February 04, 2021 - 1:41 PM
The global consulting firm McKinsey & Company agreed to pay nearly $600 million for its role in advising businesses on how to sell more prescription opioid painkillers amid a nationwide overdose crisis.
âWe deeply regret that we did not adequately acknowledge the tragic consequences of the epidemic unfolding in our communities, McKinsey Global Managing Partner Kevin Sneader said in a statement Thursday, noting the company co-operated with investigations. âWith this agreement, we hope to be part of the solution to the opioid cris
McKinsey to pay US$573 million to resolve U.S. opioid claims
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McKinsey & Co. has agreed to pay US$573 million to settle claims by U.S. states that the consulting company helped fuel the opioid epidemic by providing marketing advice to drugmakers including Purdue Pharma LP and Johnson & Johnson.
As part of the deal, New York-based McKinsey will pay out most of the money in the next two months to government programs fighting opioid addiction and providing treatment, North Carolina Attorney General Josh Stein said Thursday during an online press conference, adding that his stateâs share of the total payout would be almost US$19 million.
McKinsey to pay $600 million to settle with US states over opioid crisis role
McKinsey, which did not admit wrongdoing, must also turn over internal documents concerning its work. It will continue investigating whether employees, including two partners, tried to destroy documents in response to probes. Reuters February 04, 2021 / 10:28 PM IST
Consulting firm McKinsey & Company on Thursday said it has agreed to pay nearly $600 million to resolve investigations by most U.S. states into its alleged role in turbocharging sales of opioids, fueling a nationwide epidemic.
McKinsey struck a $573 million settlement with 47 states, the District of Columbia and five territories which will go toward opioid treatment and prevention. It reached separate deals with Washington state and West Virginia that boost the total.
McKinsey agrees to pay nearly $600M over opioid crisis
Geoff Mulvihill
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FILE - This Feb. 19, 2013, file photo shows OxyContin pills arranged for a photo at a pharmacy in Montpelier, Vt. The global business consulting firm McKinsey & Company has agreed to a $573 million settlement over its role in the opioid crisis, according to a person with knowledge of the deal. An announcement is expected Thursday, Feb. 4, 2021. (AP Photo/Toby Talbot, File) (Copyright 2019 The Associated Press. All rights reserved.)
The global consulting firm McKinsey & Company agreed to pay nearly $600 million for its role in advising businesses on how to sell more prescription opioid painkillers amid a nationwide overdose crisis.
McKinsey agrees to pay nearly $600M over opioid crisis
We deeply regret that we did not adequately acknowledge the tragic consequences of the epidemic unfolding in our communities, McKinsey Global Managing Partner says
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The global consulting firm McKinsey & Company agreed to pay nearly $600 million for its role in advising businesses on how to sell more prescription opioid painkillers amid a nationwide overdose crisis.
“We deeply regret that we did not adequately acknowledge the tragic consequences of the epidemic unfolding in our communities,” McKinsey Global Managing Partner K
evin Sneader said in a statement Thursday, noting the company cooperated with investigations. ”With this agreement, we hope to be part of the solution to the opioid crisis in the U.S.”