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The S&P 500 has climbed about 24% in 2023, hovering right around its all-time high. And, the NASDAQ Composite is up 44%, although the tech-heavy index still has some ground to cover before it starts carving out new all-time highs of its own.
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By Staff Reporters
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SPONSOR: http://www.MarcinkoAssociates.com
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Consulting firm McKinsey and Co. has agreed to pay $78 million to settle claims from insurers and health care funds that its work with drug companies 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, private benefit plans and others for some or all of their prescription opioid costs. The insurers argued that McKinsey worked with Purdue Pharma – the maker of OxyContin – to create and employ aggressive marketing and sales tactics to overcome doctors’ reservations about the highly addictive drugs. Insurers said that forced them to pay for prescription opioids rather than safer, non-addictive and lower-cost drugs, including over-the-counter pain medication. They also had to pay for the opioid addiction treatment that followed.
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Filed under: Drugs and Pharma, Ethics, Funding Basics, Health Economics, Health Insurance, Health Law & Policy, Touring with Marcinko | Tagged: Drugs, Marcinko, McKinsey & Co, NASDAQ, oil, opioid addiction crisis., oxy-contin, Purdue, Purdue Pharma, S&P, S&P 500, settlement | Leave a comment »
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