DENVER (KDVR) –Attorney General Phil Weiser announced a $573 million settlement Thursday with a coalition of attorneys general from 47 states, the District of Columbia and five U.S. territories and one of the world’s largest consulting firms, McKinsey & Company, Inc. United States, to resolve investigations into the company’s role in working for opioid companies, helping those companies promote their drugs, and profiting from the opioid epidemic.
According to a release on Thursday morning, the settlement, after payment of costs, will be used to abate problems caused by opioids in the participating states. Colorado will receive nearly $10 million from the settlement.
The filing announced on Thursday in Denver District Court describe how McKinsey contributed to the opioid crisis by promoting marketing schemes and consulting services to opioid manufacturers, including OxyContin maker Purdue Pharma, for over a decade.
The complaint, filed with the settlement, details how McKinsey advised Purdue on how to maximize profits from its opioid products, including targeting high-volume opioid prescribers, using specific messaging to get physicians to prescribe more OxyContin to more patients, and circumventing pharmacy restrictions in order to deliver high-dose prescriptions, according to Thursday’s release.