Share this @internewscast.com

Consulting firm McKinsey & Co has agreed to pay $78 million to resolve claims by U.S. health insurers and benefit plans that it fueled an epidemic of opioid addiction through its work for drug companies including OxyContin maker Purdue Pharma.

The settlement was disclosed in papers filed on Friday in federal court in San Francisco. It marked the last in a series of settlements McKinsey has reached resolving lawsuits over the U.S. opioid epidemic.

Plaintiffs accused McKinsey, one of the leading global consulting firms, of contributing to the deadly drug crisis by helping drug manufacturers including Purdue Pharma design deceptive marketing plans and boost sales of painkillers.

McKinsey previously paid $641.5 million to resolve claims by state attorneys general and another $230 million to resolve claims by local governments. It has also settled cases by Native American tribes.

Friday’s class action settlement, which requires a judge’s approval, resolves claims by so-called third-party payers like insurers that provide health and welfare benefits.

Paul Geller, a lawyer for the plaintiffs, in a statement said the drug crisis was caused by an oversupply of dangerous addictive drugs, and the case aimed to “recover some of the money spent on the over-prescribed pills.”

McKinsey did not admit wrongdoing. In a statement, the firm said it continued to believe its past work was lawful. It also noted it had committed in 2019 to no longer advise clients on any opioid-related business.

Thousands of lawsuits have been filed by states, local governments and Native American tribes accusing drug companies of downplaying the risks of opioid painkillers, and distributors and pharmacies of ignoring red flags that they were being trafficked illegally.

The litigation has resulted in more than $50 billion in settlements with drugmakers, distributors and pharmacy chains.

Nearly 645,000 people died in the United States from overdoses involving opioids, both prescription and illicit, from 1999 to 2021, according to the U.S. Centers for Disease Control and Prevention.

The U.S. Supreme Court earlier this month heard a challenge by President Joe Biden’s administration to Purdue Pharma’s multi-billion-dollar bankruptcy settlement resolving related claims against the drugmaker.

Reporting by Nate Raymond in Boston; editing by Diane Craft

Share this @internewscast.com
You May Also Like
Gates on Musk: 'World’s richest man killing the world’s poorest children'

Gates Criticizes Musk: Claims “World’s Wealthiest Man is Harming Impoverished Children”

(The Hill) – Billionaire entrepreneur Bill Gates criticized Elon Musk for advising…
Sadie Haynes recovers after she was hit by a car at Fleming Island

Sadie Haynes on the Mend Following Car Accident at Fleming Island

15-year-old Sadie Haynes is still in the ICU eight days following an…
Pope Leo XIV Chicago: Father William Lego of St. Turibius shares memories of his former classmate Cardinal Robert Prevost

Pope Leo XIV in Chicago: Father William Lego of St. Turibius Reflects on His School Days with Cardinal Robert Prevost

CHICAGO (WLS) — A Southwest Side priest is sharing fond memories of…
Mostly women arrested in Columbia University library takeover: NYPD

Majority of Arrestees Were Women in Columbia University Library Protest: Police Report

The New York Police Department took 61 women into custody following an…
Pope Leo XIV's has deep roots on Chicago's South Side and south suburbs, including teaching at St. Rita High School

Pope Leo XIV Has Strong Ties to Chicago’s South Side and Suburbs, Previously Taught at St. Rita High School

CHICAGO (WLS) — Pope Leo and his family have a long history…
An image collage containing 1 images, Image 1 shows Photo of Jason Corbett and a woman at a formal event

Unraveling the Tragic Tale of Jason Corbett: Inside the Fatal American Marriage

JASON Corbett was killed by his wife Molly Martens and her father…
Bill Gates speaking at the Global Fund conference.

Bill Gates Pledges to Donate 99% of His $113 Billion Fortune by 2045, Declaring He ‘Won’t Die Rich’

BILL Gates has generously pledged to give away 99% of his enormous…
Reba McEntire, LeAnn Rimes and more

Country Stars: Reba McEntire, LeAnn Rimes, and Others

Prominent figures such as Nicole Kidman, Reba McEntire, LeAnn Rimes, and others…
Republican DA bucks blue state's 'broken sentencing' with tough-on-crime approach

Republican DA Challenges Blue State’s Sentencing Policies with Firm Stance on Crime

A Republican district attorney known for a tough stance on crime is…
Screenshot of a Newsmax live report on Cardinal Prevost being the first American elected as Pope.

Shocking Incident as Dog Walker Spits at US Attorney Nominee Ed Martin During Live TV Interview

A furious dog walker shouted profanities and spat on Donald Trump’s past…
Close-up of a teen's hands holding a smartphone.

New Law Restricts Children’s Phone Use to 1 Hour Per Day, Varies by App

A CONTROVERSIAL new law will restrict children’s time on social media. The…
Photo of Daniel Pearl, Wall Street Journal reporter.

India Eliminates Terrorist Responsible for American Journalist’s Beheading in Pakistan; Tensions Rise Between Nuclear-Armed Nations

INDIA says it has killed a top commander of a Pakistan-based Islamist…