Consulting firm McKinsey agrees to $78 million settlement with insurers over opioids

Consulting firm McKinsey and Co. has agreed to pay $78 million to settle claims from insurers and health care funds that its marketing work with Purdue Pharma helped fuel an opioid addiction crisis. The agreement was revealed late Friday in documents filed in federal court in San Francisco. The settlement must still be approved by a judge. Under the agreement, McKinsey would establish a fund to reimburse insurers, benefit plans and others for their prescription opioid costs. The insurers argued that McKinsey created aggressive marketing and sales tactics for prescription opioids, forcing it to pay more for them instead of cheaper, less addictive painkillers. McKinsey has denied wrongdoing.