Big Pharma Consultant McKinsey Settles Claims Over Opioid Addiction
(UnitedVoice.com) – The US has been in the middle of an opioid crisis for almost a decade. It has cost the country billions of dollars and tens of thousands of lives. Over the last year, the courts have started to make Big Pharma pay. The latest settlement, however, doesn’t involve a drug manufacturer, but a consulting firm for the industry instead.
The McKinsey & Co. consulting firm has reached a $573 million settlement with 47 states over its work advising Purdue Pharma and other drug makers to aggressively market opioid painkillers. https://t.co/a6pbgOwhfI
— STAT (@statnews) February 4, 2021
On February 4, McKinsey & Co agreed to pay $573 million to settle with 43 states for its role in the epidemic. The company was accused of giving advice to Purdue Pharma, the maker of OxyContin, on how to boost sales for opioids during the crisis and telling drug manufacturers to “band together” to fight FDA regulations.
According to the terms of the settlement, the firm will not have to admit to wrongdoing. However, it must keep emails for five years, turn over thousands of documents, reveal conflicts of interest when it wants government contracts, and implement restrictions on its consulting when dealing with narcotics.
The money from the settlement will be split between programs to help people recover and receive treatments for their opioid addictions, hopefully saving some lives.
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