Back in December, consulting firm McKinsey & Company issued an apology for advising Purdue Pharma how to ‘turbocharge’ opioid sales. According to a recent New York Times article, the firm is now putting its money where its mouth is with a massive settlement to the tune of $573 million. The agreement comes after lawsuits from 49 states produced a trove of documents illustrating how McKinsey’s advice to drugmakers contributed to an opioid crisis that claimed 450,000 lives in twenty years.
After Purdue pleaded guilty to federal criminal charges of misleading doctors and regulators about OxyContin’s risks, McKinsey advised them to join forces with other opioid makers in fending off scrutiny from the FDA. $478 million of civil penalties must be paid within 60 days and will be used for opioid treatment, prevention, and recovery programs.