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McKinsey Proposed Paying Pharmacy Companies Rebates for OxyContin Overdoses

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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

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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.

 

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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.
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