McKinsey to Pay $650 Million to Settle U.S. Opioid Investigation Linked to Purdue Pharma, Enters Deferred Prosecution Agreement

Dec 13, 2024, 02:58 PM

McKinsey & Company has agreed to pay $650 million to settle a U.S. Department of Justice investigation into its consulting work with Purdue Pharma, the maker of OxyContin. The settlement addresses allegations that McKinsey aided Purdue in boosting sales of opioid painkillers, contributing to the ongoing opioid crisis in the United States. As part of the resolution, McKinsey will enter into a five-year deferred prosecution agreement, which allows the firm to avoid criminal charges while acknowledging its role in the opioid epidemic. The settlement was announced during a news conference held at the Moakley Federal Courthouse in Boston, where federal prosecutors outlined the terms of the agreement. This resolution marks a significant moment in the broader legal scrutiny of consulting firms' involvement in the opioid crisis.