All articles tagged with #purduepharma
Originally Published 1 year ago — by CNBC
McKinsey & Co. has agreed to pay $650 million in a deferred prosecution agreement to settle a federal criminal investigation into its consulting work with Purdue Pharma, which involved advising on increasing sales of the opioid OxyContin. Additionally, a former McKinsey partner will plead guilty to obstruction of justice for destroying and concealing documents related to the probe.
Originally Published 2 years ago — by Fox Business
McKinsey & Co. has agreed to a $78 million settlement with U.S. health insurers and benefit plans over allegations that its consulting work for drug companies, including Purdue Pharma, contributed to the opioid crisis. The settlement will establish a fund to reimburse third-party payers for opioid-related costs. McKinsey has reached several settlements related to the opioid epidemic, totaling over $900 million, but maintains that its past work was lawful. The settlement is pending judicial approval.
Originally Published 2 years ago — by CBS News
Consulting firm McKinsey & Co. has agreed to a $78 million settlement with insurers and healthcare funds over allegations that its work with Purdue Pharma and other drug companies contributed to the opioid crisis. The settlement, pending judicial approval, will establish a fund to reimburse prescription opioid costs and addiction treatments. This follows McKinsey's previous settlements totaling nearly $830 million with U.S. states, territories, and local entities. Despite the settlements, McKinsey maintains that its past work was lawful and ceased advising on opioid-related business in 2019.
Originally Published 2 years ago — by NBC News
McKinsey & Co has agreed to a $78 million settlement with U.S. health insurers and benefit plans over allegations that its consulting services for drug companies, including Purdue Pharma, contributed to the opioid epidemic. This settlement adds to McKinsey's previous payouts, totaling over $871 million, to various plaintiffs including state attorneys general, local governments, and Native American tribes. McKinsey maintains that its past work was lawful and has ceased advising on opioid-related business since 2019. The opioid crisis has led to numerous lawsuits and over $50 billion in settlements from various entities in the pharmaceutical industry.
Originally Published 2 years ago — by The Associated Press
Consulting firm McKinsey and Co. has agreed to a $78 million settlement with insurers and health care funds over allegations that its marketing strategies for Purdue Pharma's OxyContin contributed to the opioid addiction crisis. The settlement, pending judicial approval, will establish a fund to reimburse prescription opioid costs. This follows previous settlements by McKinsey, including a nearly $600 million agreement in 2021 with various U.S. states and territories, and a $230 million settlement with school districts and local governments. McKinsey maintains that its past work was lawful but has ceased advising on opioid-related business since 2019.
Originally Published 2 years ago — by Reuters
Consulting firm McKinsey & Co has agreed to a $78 million settlement with U.S. health insurers and benefit plans over allegations of exacerbating the opioid crisis through its marketing strategies for drug companies, including Purdue Pharma. This settlement adds to McKinsey's previous payouts, totaling over $871 million, to various plaintiffs including state attorneys general and local governments. McKinsey maintains that its past work was lawful and has ceased advising on opioid-related business since 2019. The settlement is part of broader litigation that has seen over $50 billion in settlements related to the opioid epidemic in the U.S.