February 24, 2021

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Consulting firm McKinsey is settling the $ 573 million opioid case NOW

Consulting firm McKinsey is settling the $ 573 million opioid case NOW

The large consulting firm McKinsey has to pay 573 million US dollars in a comparison with 47 US states. The agency advised drug companies that have been blamed in part for the large number of Americans who have become addicted to pain medication but are not guilty of this case. Therefore, the possibility of civil litigation can be avoided.

According to the newspaper Financial Times The billing amount is much higher than the fee McKinsey received for the consultation. McKinsey insists it wasn’t breaking the law, while the New York attorney general said the agency’s marketing techniques actually fueled the opiate crisis.

McKinsey has partnered with Purdue Pharma. The pharmaceutical company previously resigned itself to the US government worth more than $ 8 billion. McKinsey helped Purdue market the addictive pain reliever, OxyContin. OxyContin (contains the active ingredient oxycodone) is considered to be the drug that triggered the American addiction crisis.

Thousands of civil cases are still pending against Purdue. In order to meet the requirements, Purdue has previously filed for bankruptcy protection. By continuing the so-called insolvency proceedings according to Chapter 11, the company can restart and resolve the legal disputes at the same time.

A large number of Americans are addicted to pain medication known as the opiate crisis. Between 1999 and 2018, nearly half a million Americans died from overdoses on legal or illegal pain medication, according to the U.S. Health Service’s CDC. These include morphine-like drugs like oxycodone and fentanyl.