OMAHA, Nebraska (WOWT) — Nebraska and Iowa are to see a cut of a nearly $600 million settlement involving one of the world’s largest consulting firms and their role in helping companies promote their drugs, prompting an opioid crisis.
McKinsey & Company has agreed to pay a $573 million settlement for their role in helping companies sell more opioid painkillers.
The money will reach 47 states, the District of Columbia, and five U.S. territories. Separate deals are expected for Washington, West Virginia, and Nevada.
According to Nebraska’s and Iowa’s Attorney Generals Offices, Iowa will receive $4,677,279 over five years and Nebraska will receive $2,590,561.60 over the next five years.
In Nebraska, in 2020, Nebraska Legislature enacted the Opioid Prevention and Treatment Act which included the creation of the Nebraska Opioid Recovery Fund. All settlement funds from opioid-related defendants will be deposited into the Recovery Fund, according to the release. This fund goes to prevention, treatment, and law enforcement purposes related to the opioid crisis across Nebraska.
“Today’s filing is a significant action towards Nebraska’s effort to combat the opioid epidemic and to hold accountable those who are responsible for creating and perpetuating the crisis,” stated Nebraska Attorney General Peterson.
According to Iowa’s release, the settlement after payment costs, will be used to abate problems caused by opioids including treatment for Iowans.
“McKinsey played a critical role in developing and amplifying dangerous messages about opioid use that Purdue Pharma and others perpetuated for years,” Iowa Attorney General Tom Miller said. “This settlement agreement will allow us to help Iowans who suffer from the impact of the opioid crisis by supporting and expanding needed substance abuse treatment services.”
Please note: This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.