Consulting giant McKinsey & Co. has agreed to pay about $573 million to settle the ongoing inquiry into its role in advising OxyContin maker Purdue Pharma LP and other drug manufacturers how to boost the sales of opioid drugs amid an epidemic that took the lives of nearly half a million Americans.
According to a court filing in Massachusetts on Thursday, the global consulting firm has reached a definitive agreement with the attorney generals from 47 states, the District of Columbia and five other U.S. territories.
The official compromise came after lawsuits revealed several evidences that indicated how McKinsey helped “supercharge” the sales of Purdue Pharma’s OxyContin painkiller that resulted in the 450,000 overdose deaths from 1999 to 2018.
Several U.S. attorney generals said they would make their announcements regarding the opioid crisis on Thursday, including Vermont’s Democratic attorney general, T.J. Donovan, whose office said it would announce its involvement during the first multi-state opioid settlement “to result in substantial payment to the states to address the epidemic.”
According to Washington’s State Attorney General Bob Ferguson, he was able to reach a separate $13 million settlement with McKinsey which was on top of the reported multi-state agreement.
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