DENVER — The consulting firm McKinsey has agreed to pay a $573 million settlement for its role in the opioid crisis, $10 million of which will go to Colorado, state Attorney General Phil Weiser announced on Thursday morning.
Weiser was one of 47 state attorneys general, plus attorneys general from Washington D.C. and five U.S. territories, to form a coalition to investigate McKinsey.
“I applaud McKinsey’s decision to step forward, accept responsibility, and work with us to address the opioid crisis,” Weiser said in a statement. “They are the first company to work with the states to fix the problem rather than deny their conduct and engage in protracted litigation or delay. Their approach provides a model for other companies to follow to focus our energy on fixing the problem rather than making excuses or blaming others.”
As part of the settlement, McKinsey agreed to disclose tens of thousands of documents that detailed its work for opioid companies, including Purdue Pharma, Weiser’s office said.
Court filings alleged that McKinsey contributed to the opioid crisis “by promoting marketing schemes and consulting services” to opioid manufacturers, such as Purdue Pharma, which made OxyContin.