McKinsey to Pay $650 Million to Settle DOJ Opioid Probe; Ex-Partner Pleads Guilty

Dec 13, 2024, 03:19 PM

McKinsey & Company has agreed to pay $650 million to settle U.S. Department of Justice criminal and civil investigations into its advisory work with opioid manufacturers, including Purdue Pharma, maker of OxyContin. The consulting firm accepted responsibility for its role in advising opioid producers on how to boost sales, including 'turbocharging' OxyContin sales, which prosecutors said contributed to the opioid epidemic. McKinsey entered into a five-year deferred prosecution agreement to resolve criminal charges, including conspiring with Purdue Pharma and others to aid and abet misbranding of prescription drugs. A former senior partner will plead guilty to obstruction of justice.