The Department of Justice has launched a criminal investigation into consulting firm McKinsey related to its past role in advising some of the nation’s largest opioid manufacturers on how to boost sales. Federal prosecutors are also probing whether McKinsey or any of its employees may have obstructed justice in relation to its records of its consulting services for opioid producers. (The Wall Street Journal)
Spending on GLP-1 drugs ballooned last year and they’re set to cost the U.S. healthcare system and the federal government more this year. Expenditures on Novo Nordisk’s Ozempic and Wegovy doubled to $38.6 billion, making the drug the top-selling medicine in 2023. (STAT News)
UnitedHealth Group has decided to shut down Optum’s virtual care business. Optum Virtual Care was a major part of Optum’s push into telehealth services in 2021, as Covid-19 accelerated the industry’s adoption of virtual services. The shutdown raises questions about how UnitedHealth is thinking about its virtual strategy. (Endpoints News)
Upscale fitness chain Equinox said it is now serving GLP-1 clients in every single market. Equinox parent company Equinox Group announced it raised $1.8 billion in new capital and credit for refinancing and expansion. (Fast Company)
Haleon named Dawn Allen as CFO, succeeding outgoing financial chief Tobias Hestler. He will leave his post on November 1 but will continue with Haleon until the end of the year to ensure an orderly leadership transition. (MM+M)
Click here to see yesterday’s Five things for pharma marketers to know.
