McKinsey Proposed Paying Pharmacy Companies Rebates for OxyContin Overdoses

📆 29/11/2020 00:30:00
📰 YahooNews

⏱ Reading Time:
48 sec. here
2 min. at publisher
📊 Quality Score:
News: 22%
Publisher: 59%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

When Purdue Pharma agreed last month to plead guilty to criminal charges involving OxyContin, the Justice Department noted the role an unidentified consulting company had played in driving sales of the addictive painkiller even as public outrage grew over widespread overdoses.Documents released last week in a federal bankruptcy court in New York show that the adviser was McKinsey & Co., the world's most prestigious consulting firm. The 160 pages include emails and slides revealing new details about McKinsey's advice to the Sackler family, Purdue's billionaire owners, and the firm's now notorious plan to 'turbocharge' OxyContin sales at a time when opioid abuse had already killed hundreds of thousands of Americans.In a 2017 presentation, according to the records, which were filed in court on behalf of multiple state attorneys general, McKinsey laid out several options to shore up sales. One was to give Purdue's distributors a rebate for every OxyContin overdose attributable to pills they sold.Sign up for The Morning newsletter from the New York TimesThe presentation estimated how many customers of companies including CVS and Anthem might overdose. It projected that in 2019, for example, 2,484 CVS customers would either have an overdose or develop an opioid use disorder. A rebate of $14,810 per 'event' meant that Purdue would pay CVS $36.8 million that year.CVS and Anthem have recently been among McKinsey's biggest clients. Press officers for the two companies said they had never received rebates from Purdue for customers who had overdosed on OxyContin.Though McKinsey has not been charged by the federal government or sued, it began to worry about legal repercussions in 2018, according to the documents. After Massachusetts filed a lawsuit against Purdue, Martin Elling, a leader for McKinsey's North American pharmaceutical practice, wrote to another senior partner, Arnab Ghatak: 'It probably makes sense to have a quick conversation with the risk committee to see if we s

Heavy shelling hits capital of Ethiopia's Tigray as forces begin offensive

Heavy shelling struck the capital of Ethiopia's Tigray region on Saturday, the local government and humanitarian sources said, as the city of half a million braced for an attack against leaders of the regional ruling party. Ethiopia's military "has started hitting with heavy weaponry and artillery the centre of Mekele", the local government said in a statement carried by Tigrayan media - a claim confirmed by two humanitarian officials with staff in the city.

Former Overstock.com CEO Patrick Byrne left behind a cloud of confusion when he resigned in 2019 from the internet retailer he’d founded after panicking investors with his bizarre claims that he had romanced a Russian agent at the behest of “Men in Black” working for the United States government.Now he’s back, with what he has described as his own personal “army,” touting what he claims is proof that Democrats stole the election from Donald Trump.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

and gets just a fine ?

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sacklers cited fear of OxyContin lawsuits before transferring $10 billion from their company, documents showMembers of the wealthy Sackler family, owners of OxyContin maker Purdue Pharma LP, have long denied that the $10 billion they transferred from their company over the course of a decade was an unlawful attempt to shield assets in anticipation of litigation over their role... 90% of news about covid and trump So, a family of opium dealers are scumbags all around? I’m totally shocked! These are the people worshipped by America’s Republican voters. What a shithole country we are! you can let the billionaires keep all the money or let AI make all the decisions, but next thing you know you hollowed out your kingdoms for a momentary attempted grasp of a brass ring for trust fund babies to squander into nothing. Invest in all.
Source: Reuters - 🏆 2. / 97 Read more »

China plans tougher antitrust rules for non-bank payments industryChina's central bank has proposed stepping up antitrust measures for companies in the non-bank payments industry, such as Ant Group's Alipay and Tencent's WeChat Pay. China is going to plan a lot of things now. They are going into high gear now that we will start the circus show Cuban Missile Crisis Declassified episode 1 nice
Source: Reuters - 🏆 2. / 97 Read more »