McKinsey SettMcKinsey Settles for $573 Million Over Role in Opioid Crisis

[PatSeg]

These people are absolutely evil. 450,000 people died of opioid overdoes in two decades.

McKinsey & Company, the consultant to blue-chip corporations and governments around the world, has agreed to pay $573 million to settle investigations into its role in helping “turbocharge” opioid sales, a rare instance of it being held publicly accountable for its work with clients.

The firm has reached the agreement with attorneys general in 47 states, the District of Columbia and five territories, according to five people familiar with the negotiations. The settlement comes after lawsuits unearthed a trove of documents showing how McKinsey worked to drive sales of Purdue Pharma’s OxyContin painkiller amid an opioid epidemic in the United States that has contributed to the deaths of more than 450,000 people over the past two decades.

McKinsey’s extensive work with Purdue included advising it to focus on selling lucrative high-dose pills, the documents show, even after the drugmaker pleaded guilty in 2007 to federal criminal charges that it had misled doctors and regulators about OxyContin’s risks. The firm also told Purdue that it could “band together” with other opioid makers to head off “strict treatment” by the Food and Drug Administration.

The consulting firm will not admit wrongdoing in the settlement, to be filed in state courts on Thursday, but it will agree to court-ordered restrictions on its work with some types of addictive narcotics, according to those familiar with the arrangement. McKinsey will also retain emails for five years and disclose potential conflicts of interest when bidding for state contracts. And in a move similar to the tobacco industry settlements decades ago, it will put tens of thousands of pages of documents related to its opioid work onto a publicly available database.

https://www.nytimes.com/2021/02/03/business/mckinsey-opioids-settlement.html?campaign_id=60&emc=edit_na_20210203&instance_id=0&nl=breaking-news&ref=cta®i_id=144275770&segment_id=50956&user_id=9300c9e86795a856411ac8bf084cff8b

[malaise]

1. Well to be honest Trump outdid them in less than a year

and he hasn't even been arrested yet

[PatSeg]

3. Well, we know Trump is an overachiever

He could even outdo an epic opioid crisis.

[abqtommy]

2. Financial settlements are all very fine but I'd like to see some prison time!

Lock 'em up! Lock 'em all up, make 'em moan and whine. They did the crime and they owe
us some time!

[PatSeg]

4. I was thinking the same thing

450,000 people are dead and countless others have had their lives ruined. There obviously should be some financial liability, but they knew what they were doing and should serve prison time as well.