McKinsey to pay near $600M for opioid crisis role

The consulting firm McKinsey & Co. agreed to pay nearly $600 million for its role in the opioid crisis. The deal announced Thursday with attorneys general for most states is novel because McKinsey did not make or sell the powerful painkillers. (Feb. 4)

Video Transcript

MAURA HEALEY: We know the opioid epidemic is one of the most devastating crises of our time. The rise in opioid prescriptions caused an equally devastating rise in substance use disorder, overdoses, and deaths. We continue to see it every day in our communities. But today, a coalition of 53 attorneys general representing 47 states, the District of Columbia, and five US territories together announce a $570 million settlement with one of the world's largest consulting firms, McKinsey & Company.

Through a project McKinsey referred to as, quote, "turbocharging the sales engine," McKinsey told Purdue and the Sacklers how to sell more Oxycontin. This agreement with McKinsey is the first multi-state opioid settlement to result in substantial payment to the states to address this epidemic. Nearly every dollar of this settlement will go directly to support treatment, prevention, and recovery efforts.