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What will be the impact of McKinsey's opioid settlement on its business operations by 2025?
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McKinsey to Pay $650 Million in Opioid Settlement Over 'Turbocharging' Purdue Pharma Sales
Dec 13, 2024, 04:20 PM
McKinsey & Company has agreed to pay $650 million to settle a US Department of Justice investigation into its role in advising opioid manufacturers, including Purdue Pharma, on strategies to boost sales of opioid painkillers such as OxyContin. The settlement, which includes a five-year deferred prosecution agreement, allows McKinsey to avoid a guilty plea while resolving criminal and civil investigations into the consulting firm's work that prosecutors say contributed to the opioid epidemic, which has claimed hundreds of thousands of lives in the United States. As part of the agreement, a former McKinsey partner will plead guilty to obstruction of justice for destroying documents related to the firm's efforts to 'turbocharge' opioid sales. McKinsey accepted responsibility for its actions, including conspiring with Purdue Pharma and others to aid and abet the misbranding of prescription drugs.
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