McKinsey to Pay $573M to Settle Role in Opioid Crisis
“Global consultancy firm McKinsey & Company has agreed to pay $573 to settle claims by more than 40 US states related to its role in the nation’s opioid epidemic,” report Michael Forsythe and Walt Bogdanich in The New York Times.
“Sources familiar with the matter said that McKinsey’s settlement is with 43 states, the District of Columbia and three territories. Several attorney generals said they planned to make announcements on the opioid epidemic on Thursday, coinciding with the filing of the settlement.”
“$478 million of the settlement must be paid within 60 days, according to the New York Times. In total, the settlement will exceed any profits the firm made from its opioid-related work with pharmaceutical companies.”
“The company will not admit wrongdoing as part of the deal.”
