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
Julian McMahon's 'Charmed' co-stars remembers the late actor: 'One of a kind'

Julian McMahon’s Former ‘Charmed’ Cast Members Pay Tribute: ‘Truly Unique’

The women of “Charmed” are remembering their late co-star. Julian McMahon, who…
Collage of illustrations of world leaders as children.

Putin Uses Cartoons Featuring Baby Trump to Influence Young Children Early

TWISTED Putin’s brainwashing programme has plunged to new depths with a dystopian…
Diogo Jota's wife Rute Cardoso helps carry coffin at funeral

Rute Cardoso Assists in Carrying Coffin at Funeral of Diogo Jota’s Loved One

The widow of the late Portuguese footballer Diogo Jota was visibly distraught…
Florida expired tags: Potential consequences and tips to avoid registration spam

Expired Florida Tags: Consequences and Tips to Steer Clear of Registration Spam

Nearly 700,000 Florida drivers have expired tags, according to recent data from…
Tropical Storm Chantal forms off South Carolina coast

Tropical Storm Chantal Develops Near the Coast of South Carolina

On Saturday morning, Tropical Storm Chantal emerged near the coast of South…
Kamala Decides We Need to Hear Negative Views on the Fourth, and the Internet Responds Perfectly

Kamala Suggests Highlighting Criticism on the Fourth, and the Internet’s Reaction Is Spot On

On Friday, a former Democratic presidential candidate expressed a rather somber view…
Macy's Fourth of July fireworks light up NYC sky

Dazzling Fireworks Illuminate NYC Skyline for Macy’s July Fourth Celebration

The 49th annual Macy’s Fourth of July Fireworks show left New Yorkers…
Two girls, Renee Smajstrla and Janie Hunt, at Texas Christian camp found dead

Two Young Girls, Renee Smajstrla and Janie Hunt, Discovered Deceased at Texas Christian Camp

Two girls from Camp Mystic, who were missing, were discovered deceased during…
Knicks signing Guerschon Yabusele speaks on why he joined team

Guerschon Yabusele Shares Reasons for Joining the Knicks

Guerschon Yabusele thinks he’ll fit right in with his new team. In…
2026 Senate election candidates Juliana Stratton, Raja Krishnamoorthi, Robin Kelly show out for 4th of July parade festivities

2026 Senate Election: Juliana Stratton, Raja Krishnamoorthi, and Robin Kelly Shine in Independence Day Parade Celebrations

CHICAGO (WLS) — The Fourth of July means parades in many communities.…
Donald and Melania Trump on a White House balcony with an American flag.

Donald and Melania Trump Charm Audience with Heartwarming Balcony Appearance Amid Fourth of July Fireworks Celebration

DONALD Trump and Melania have warmed hearts with their PDA-packed appearance while…
Heroes, zeros from Mets' Subway Series win: Jeff McNeil came through

Mets’ Subway Series Victory: Jeff McNeil Shines While Others Falter

Heroes, zeros and the inside pitch from the Mets’ 6-5 win over the…