Consulting firm McKinsey agrees to $78 million settlement with insurers over opioids
1 year ago

Consulting firm McKinsey agrees to $78 million settlement with insurers over opioids

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Consulting firm McKinsey and Co. has agreed to pay $78 million to settle claims from insurers and health care funds that its work with drug companies helped fuel an opioid addiction crisis. Under the agreement, McKinsey would establish a fund to reimburse insurers, private benefit plans and others for some or all of their prescription opioid costs. The insurers argued that McKinsey worked with Purdue Pharma – the maker of OxyContin – to create and employ aggressive marketing and sales tactics to overcome doctors’ reservations about the highly addictive drugs.

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Consulting firm McKinsey to pay $650 million to resolve US criminal opioid probe
Trending News
4 weeks, 1 day ago

Consulting firm McKinsey to pay $650 million to resolve US criminal opioid probe

CNN  

McKinsey & Co has agreed to pay $650 million to resolve a US Department of Justice investigation into the consulting firm’s work advising opioid manufacturer OxyContin maker Purdue Pharma on how to boost sales. “We are deeply sorry for our past client service to Purdue Pharma and the actions of a former partner who deleted documents related to his work …

McKinsey & Company agrees to pay $650 million for helping Purdue Pharma boost opioid sales
4 weeks, 1 day ago

McKinsey & Company agrees to pay $650 million for helping Purdue Pharma boost opioid sales

India Today  

WASHINGTON: McKinsey & Company consulting firm has agreed to pay $650 million to settle a federal investigation into its work to help opioids manufacturer Purdue Pharma boost the sales of the highly addictive drug OxyContin, according to court papers filed in Virginia on Friday. “This terrible public health crisis and our past work for opioid manufacturers will always be a …

McKinsey to pay $650m to settle US opioid consulting probe
4 weeks, 1 day ago

McKinsey to pay $650m to settle US opioid consulting probe

Al Jazeera  

Prosecutors say McKinsey provided Purdue advice on measures it could take to ‘turbocharge’ OxyContin sales. Consulting firm McKinsey & Company has agreed to pay $650m to resolve a United States Department of Justice investigation into the consulting firm’s work advising opioid manufacturer Purdue Pharma on how to boost OxyContin sales. “We are deeply sorry for our past client service to …

McKinsey & Company to pay $650 million for role in opioid crisis
4 weeks, 1 day ago

McKinsey & Company to pay $650 million for role in opioid crisis

NPR  

McKinsey & Company to pay $650 million for role in opioid crisis Drew Angerer/Getty Images; Fabrice Coffrini/AFP via Getty Images; Charles Krupa/AP Photo/AFP The global consulting firm McKinsey and Company Friday agreed to pay $650 million to settle a federal probe into its role in helping "turbocharge" sales of the highly addictive opioid painkiller OxyContin for Purdue Pharma, the U.S. …

Justice Department is investigating McKinsey consulting firm’s role in opioid epidemic
8 months, 2 weeks ago

Justice Department is investigating McKinsey consulting firm’s role in opioid epidemic

CNN  

CNN — The Justice Department is investigating McKinsey & Company, one of the world’s largest consulting firms, over its role in advising drug companies on how to boost sales of opioids, according to sources familiar with the matter. Prosecutors from Virginia and Massachusetts are leading the criminal investigation, the sources said, and are coordinating with the Justice Department’s civil division …

Consulting giant McKinsey agrees to $78 million settlement in opioid case
1 year ago

Consulting giant McKinsey agrees to $78 million settlement in opioid case

Hindustan Times  

A $78 million settlement has been reached between McKinsey and Co., a consulting firm, and a group of insurers and healthcare funds who accused the firm of contributing to the opioid addiction crisis through its work with drug manufacturers. The settlement would create a fund that McKinsey would use to pay back insurers, private benefit plans and others who incurred …

Consulting firm McKinsey agrees to $78 million settlement with insurers over opioids
1 year ago

Consulting firm McKinsey agrees to $78 million settlement with insurers over opioids

Associated Press  

Consulting firm McKinsey and Co. has agreed to pay $78 million to settle claims from insurers and health care funds that its work with drug companies helped fuel an opioid addiction crisis. Under the agreement, McKinsey would establish a fund to reimburse insurers, private benefit plans and others for some or all of their prescription opioid costs. The insurers argued …

US pharmacy companies reach $10bn settlement over opioid claims
2 years, 2 months ago

US pharmacy companies reach $10bn settlement over opioid claims

Al Jazeera  

The deals mean CVS and Walgreens will pay more than $10bn for their roles in the opioid crisis that continues to claim thousands of lives in US. Two US pharmacy chains have reached a tentative settlement over lawsuits brought by state, local, and tribal governments accusing the companies of contributing to the opioid crisis through irresponsible practices. CVS Health and …

McKinsey reaches deal with US local governments over opioids
2 years, 2 months ago

McKinsey reaches deal with US local governments over opioids

Al Jazeera  

Leading consulting firm McKinsey & Co has agreed to settle claims by hundreds of United States local governments and school districts around the country that it fuelled an epidemic of opioid addiction through its work for bankrupt OxyContin maker Purdue Pharma LP and other drug companies. McKinsey previously agreed to pay more than $600m to settle opioid claims brought by …

McKinsey exec faces questions on opioid, FDA consulting work
2 years, 8 months ago

McKinsey exec faces questions on opioid, FDA consulting work

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Johnson & Johnson, 3 distributors finalize landmark $26-billion opioid settlement
2 years, 10 months ago

Johnson & Johnson, 3 distributors finalize landmark $26-billion opioid settlement

LA Times  

Used syringes are disposed of Thursday at a needle exchange run by a health center in Camden, N.J. Drugmaker Johnson & Johnson and three major distributors finalized nationwide settlements over their role in the opioid addiction crisis Friday, an announcement that clears the way for a cumulative $26 billion to flow to nearly every state and local government in the …

4 U.S. companies will pay $26 billion to settle claims they fueled the opioid crisis
2 years, 10 months ago

4 U.S. companies will pay $26 billion to settle claims they fueled the opioid crisis

NPR  

4 U.S. companies will pay $26 billion to settle claims they fueled the opioid crisis Enlarge this image toggle caption Keith Srakocic/AP file photo Keith Srakocic/AP file photo Four of the largest U.S. corporations have agreed to pay roughly $26 billion to settle a tsunami of lawsuits linked to claims that their business practices helped fuel the deadly opioid crisis. …

Companies: $26B settlement of opioid lawsuits to move ahead
3 years, 4 months ago

Companies: $26B settlement of opioid lawsuits to move ahead

Associated Press  

Four companies in the drug industry said Saturday that enough states had agreed to a settlement of lawsuits over the opioid crisis for them to move ahead with the $26 billion deal. An announcement from the three largest U.S. drug distribution companies and a confirmation from drugmaker Johnson & Johnson, which had previously announced that it would move ahead, came …

US drug companies say $26bn opioid settlement will proceed
3 years, 4 months ago

US drug companies say $26bn opioid settlement will proceed

Al Jazeera  

Companies say ‘enough’ US states joined a settlement resolving claims they fuelled the opioid epidemic, allowing it to move ahead. Three large US drug distributors and drugmaker Johnson & Johnson will proceed with a proposed $26bn settlement resolving claims that they fuelled the opioid epidemic after “enough” states joined in, the companies said. The companies had until Saturday to decide …

Senators question FDA on work with opioid maker consultant
3 years, 4 months ago

Senators question FDA on work with opioid maker consultant

Associated Press  

Several U.S. senators are questioning the Food and Drug Administration’s work with a consulting firm that helped businesses sell prescription painkillers during the nation’s overdose crisis. The senators sent a letter Monday to the FDA noting that the agency paid McKinsey more than $140 million after hiring it several times starting in 2008. Under its contracts with the FDA, McKinsey …

US opioid lawsuits on verge of settlements with 4 companies
3 years, 5 months ago

US opioid lawsuits on verge of settlements with 4 companies

Associated Press  

The yearslong effort by state and local governments in the U.S. to force the pharmaceutical industry to help pay to fix a nationwide opioid addiction and overdose crisis took a major step forward Tuesday when lawyers for local governments announced they were on the verge of a $26 billion settlement with the nation’s three biggest drug distribution companies and the …

State Attorneys General Reach A $26 Billion National Opioid Settlement
3 years, 5 months ago

State Attorneys General Reach A $26 Billion National Opioid Settlement

NPR  

State Attorneys General Reach A $26 Billion National Opioid Settlement Enlarge this image toggle caption Steven Senne/AP Steven Senne/AP A bipartisan coalition of state attorneys general announced on Wednesday a $26 billion national settlement with drugmaker Johnson & Johnson and three companies that distributed opioid painkillers even as addiction and overdose deaths skyrocketed. "The opioid epidemic has torn families apart …

Major drug companies reach landmark $26bn US opioid settlement
3 years, 5 months ago

Major drug companies reach landmark $26bn US opioid settlement

Al Jazeera  

The deal is the second-largest cash settlement in United States history, trailing only the $246bn tobacco deal in 1998. A group of state attorneys general in the United States has unveiled a landmark $26bn settlement with major US drug companies accused of fuelling a deadly nationwide opioid epidemic, but some states were cool on the agreement. “There’s not enough money …

EXPLAINER: $26B opioid settlement big step, but not the end
3 years, 5 months ago

EXPLAINER: $26B opioid settlement big step, but not the end

Associated Press  

COLUMBUS, Ohio — A $26 billion settlement between the three biggest U.S. drug distribution companies and drugmaker Johnson & Johnson and thousands of states and municipalities that sued over the toll of the opioid crisis is certainly significant — but it is far from tying a neat bow on the tangle of still unresolved lawsuits surrounding the epidemic. In West …

U.S. opioid lawsuits on verge of settlements with 4 companies
3 years, 5 months ago

U.S. opioid lawsuits on verge of settlements with 4 companies

LA Times  

The three biggest U.S. drug distribution companies and the drugmaker Johnson & Johnson are on the verge of a $26-billion settlement covering thousands of lawsuits over the toll of opioids such as OxyContin. The years-long effort by state and local governments in the U.S. to force the pharmaceutical industry to help pay to fix a nationwide opioid addiction and overdose …

J&J agrees to pay $230M to settle New York opioid claim
3 years, 6 months ago

J&J agrees to pay $230M to settle New York opioid claim

Associated Press  

NEW YORK — Johnson & Johnson has agreed to pay $230 million to New York state to settle claims that the pharmaceutical giant helped fuel the opioid crisis, Attorney General Letitia James said on Saturday. The drugmaker also agreed to permanently end the manufacturing and distribution of opioids across New York and the rest of the nation, James said in …

Nevada announces $45M settlement with McKinsey over opioids
3 years, 9 months ago

Nevada announces $45M settlement with McKinsey over opioids

Associated Press  

LAS VEGAS — Nevada has struck a $45 million settlement deal with McKinsey & Company for the global consulting firm’s role in advising opioid makers how to sell more prescription painkillers amid a national overdose crisis. “Nevada needed and deserved more than what was being made available to us in the multi-state settlement,” state Attorney General Aaron Ford said Monday. …

McKinsey agrees to pay nearly $600M over opioid crisis
3 years, 11 months ago

McKinsey agrees to pay nearly $600M over opioid crisis

Associated Press  

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. “Even though no amount of money can bring back the lives lost, I hope our settlement provides funding for programs to help those battling opioid addiction,” Arizona Attorney …

McKinsey agrees to pay nearly $600M over opioid crisis
3 years, 11 months ago

McKinsey agrees to pay nearly $600M over opioid crisis

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The business consultant McKinsey & …

McKinsey to pay $573m over claims it fuelled US opioid crisis
3 years, 11 months ago

McKinsey to pay $573m over claims it fuelled US opioid crisis

Al Jazeera  

More than 400,000 Americans have died over the last two decades from opioid overdoses. McKinsey & Co. will pay $573 million to settle claims by U.S. states that the blue-chip consulting firm helped fuel the country’s opioid epidemic by providing sales analysis and marketing advice to makers of the highly addictive painkillers, including Purdue Pharma LP and Johnson & Johnson. …

Opioid settlement still elusive as some lawyers criticize it
4 years, 10 months ago

Opioid settlement still elusive as some lawyers criticize it

Associated Press  

State attorneys general are finding a national settlement over the toll of opioids to be elusive, as some lawyers for state and local governments are renewing public criticism of the proposed deal with a group of companies led by the nation’s largest drug distributors. In a statement Friday, Patrick Morrisey, the attorney general in West Virginia, one of the states …

US states reject opioid makers’ $18bn settlement offer
4 years, 10 months ago

US states reject opioid makers’ $18bn settlement offer

Al Jazeera  

The offer is part of a roughly $50bn proposal to resolve more than 2,000 suits filed by state and local governments. 21 U.S. states are rejecting an $18 billion offer by McKesson Corp. and other opioid distributors to resolve nationwide litigation over their handling of the highly addictive painkillers, according to people familiar with the talks. In a letter sent …

Opioid crisis: 4 pharmaceutical companies accused in the opioid epidemic reach a $260 million settlement just before trial
5 years, 2 months ago

Opioid crisis: 4 pharmaceutical companies accused in the opioid epidemic reach a $260 million settlement just before trial

CNN  

CNN — Hours before the first federal trial in the opioid epidemic was set to begin, four pharmaceutical companies reached a settlement totaling $260 million. The four companies – McKesson Corp., Cardinal Health Inc., AmerisourceBergen Corp. and Teva Pharmaceutical Industries Ltd. – reached a settlement Monday morning with the two plaintiffs, Summit and Cuyahoga counties in Ohio. The distributors remain …

3 Major Drug Distributors Reportedly Negotiating $18B Opioid Settlement
5 years, 2 months ago

3 Major Drug Distributors Reportedly Negotiating $18B Opioid Settlement

NPR  

3 Major Drug Distributors Reportedly Negotiating $18B Opioid Settlement Three major U.S. drug distributing companies are negotiating a multibillion-dollar settlement to end numerous lawsuits filed by state and local governments seeking compensation for costs associated with the opioid crisis. The drug distributors — Amerisource Bergen, McKesson and Cardinal Health — could pay as much as $18 billion over 18 years, …

In Opioid Settlement, Johnson & Johnson Agrees To Pay Ohio Counties $20 Million
5 years, 3 months ago

In Opioid Settlement, Johnson & Johnson Agrees To Pay Ohio Counties $20 Million

NPR  

In Opioid Settlement, Johnson & Johnson Agrees To Pay Ohio Counties $20 Million Enlarge this image toggle caption Keith Srakocic/AP Keith Srakocic/AP Johnson & Johnson and two Ohio counties have reached a tentative $20.4 million settlement that removes the corporation from the first federal lawsuit against opioid manufacturers, scheduled to begin later this month. Sponsor Message In 2017, Ohio had …

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