McKinsey & Company agrees to pay $650M for helping Purdue Pharma boost opioid sales

FILE – Protesters gather outside a courthouse on Friday, Aug. 2, 2019, in Boston, where a judge was to hear arguments in Massachusetts’ lawsuit against Purdue Pharma over its role in the national drug epidemic. By GEOFF MULVIHILL, ALANNA DURKIN RICHER and STEVE LeBLANC, Associated Press

Over the past eight years, drugmakers, wholesalers and pharmacies have agreed to about $50 billion worth of settlements with governments — with most of the money required to be used to “This was not hypothetical,” Christopher Kavanaugh, U.S. Attorney for the Western District of Virginia Christopher Kavanaugh said in a news conference in Boston on Friday. “This was not just marketing. It was a strategy. It was executed and it worked.”Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees

The company also tried to help Purdue get a say in shaping federal rules intended to ensure the benefits of addictive prescription drugs outweighed the risks. The government said in its new filings that that resulted in making high-dose OxyContin subject to the same oversight as lower-dose opioids and made training for prescribers voluntary rather than mandatory.

Some advocates say the opioid crisis was touched off when Purdue Pharma’s OxyContin hit the market in 1996.

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