• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
FinanceOpioid Crisis

McKinsey agrees to yet another mammoth opioids payment, this time to settle Nevada probe

By
Michelle L. Price
Michelle L. Price
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Michelle L. Price
Michelle L. Price
and
The Associated Press
The Associated Press
Down Arrow Button Icon
March 23, 2021, 6:31 AM ET

Nevada has struck a $45 million settlement deal with McKinsey & Company for the global consulting firm’s role in advising opioid makers how to sell more prescription painkillers amid a national overdose crisis.

The western state reached the deal after sitting out a multi-state settlement with McKinsey announced in February. The hard bargaining has allowed Nevada to win a settlement that’s three and a half times larger than the average settlement with other states.

“Nevada needed and deserved more than what was being made available to us in the multi-state settlement,” state Attorney General Aaron Ford said Monday. Ford, a Democrat, said that had Nevada stayed in the multi-state deal, it would have received $7 million, which he called “woefully insufficient.”

The $45 million will be paid in two installments of $23 million in 45 days and $22 million in 120 days.

McKinsey said the deal reached with Nevada is “consistent with the commitment we made in February to be part of the solution to the opioid epidemic,” and it “believes its past work was lawful.” The company said the settlement agreement does not contain any admission of wrongdoing or liability.

The New York-based company in February settled for $573 million with 47 states, the District of Columbia and five U.S. territories. It also at the time announced separate settlements with Washington state for $13.5 million and West Virginia for $10 million.

“We deeply regret that we did not adequately acknowledge the tragic consequences of the epidemic unfolding in our communities,” McKinsey Global Managing Partner Kevin Sneader said at the time.

Opioids, which include prescription drugs like OxyContin and illegal substances such as heroin and illicit fentanyl, have been tied to more than 470,000 deaths in the U.S. over the past two decades.

McKinsey’s role came into the spotlight in recent months when OxyContin maker Purdue Pharma LP sought to settle claims against it in bankruptcy court. The Nevada Attorney General’s Office said in legal documents that McKinsey worked with Purdue from 2004 to 2019 to boost sales even as the resulting opioid epidemic emerged.

The consulting firm helped create a plan for Purdue to “turbocharge” sales of OxyContin and other opioids, according to the office, and focused on doctors prescribing high numbers of the drug and encouraged them to prescribe patients more potent doses.

Nevada, with a population of more than 3 million, has been among the hardest-hit states by the crisis. By 2016, it had enough opioid prescriptions for 87 out of 100 residents while overdoses exceeded the national average, according to Ford’s office.

Money from the settlement will be used to address the impacts of the opioid epidemic, Ford said, but the specifics would be hammered out by the governor, state lawmakers and other officials.

The state separately is pursing a wide-ranging lawsuit against Purdue along with the company’s former president, his family, other drugmakers, distributors and pharmacies.

The civil lawsuit accuses more than 40 defendants of violating state laws about deceptive trade practices, false claims, racketeering, negligence and public nuisance. Ford said a trial date has been tentatively scheduled for 2022.

About the Authors
By Michelle L. Price
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Europe is considering price caps to control inflation. CEOs are shaking their heads in despair
EconomyLetter from London
Europe is considering price caps to control inflation. CEOs are shaking their heads in despair
By Kamal AhmedMay 21, 2026
14 minutes ago
microsoft
AIProductivity
America’s new AI map shows something surprising: ‘A lot of normal people are adopting AI’
By Nick LichtenbergMay 21, 2026
44 minutes ago
Girl doing backflip into the ocean.
Travel & LeisureAir Travel
Your ‘flexible hot girl summer’ is going to cost you
By Catherina GioinoMay 21, 2026
1 hour ago
Mortgage rates today, May 21, 2026
Personal Financemortgages
Mortgage rates today, May 21, 2026
By Glen Luke FlanaganMay 21, 2026
3 hours ago
Current refi mortgage rates report for May 21, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for May 21, 2026
By Glen Luke FlanaganMay 21, 2026
3 hours ago
Current ARM mortgage rates report for May 21, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for May 21, 2026
By Glen Luke FlanaganMay 21, 2026
3 hours ago

Most Popular

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
2 days ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
19 hours ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
4 days ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
9 days ago
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
Workplace Culture
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
By Preston ForeMay 19, 2026
2 days ago
Current price of oil as of May 20, 2026
Personal Finance
Current price of oil as of May 20, 2026
By Joseph HostetlerMay 20, 2026
20 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.