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Total McKinsey opioid crisis settlements by end of 2025?
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Financial disclosures and public announcements from McKinsey & Company
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McKinsey to Pay $650 Million in DOJ Opioid Settlement Over 'Turbocharging' OxyContin Sales for Purdue Pharma
Dec 13, 2024, 05:19 PM
McKinsey & Company has agreed to pay $650 million to settle a U.S. Department of Justice investigation into its advisory role in boosting opioid sales for manufacturers such as Purdue Pharma, the maker of OxyContin. The consulting firm faced criminal charges related to its work in designing strategies to 'turbocharge' sales of opioid painkillers, even amidst an opioid epidemic that has claimed over 450,000 lives in the U.S. McKinsey accepted responsibility for its actions, which prosecutors said included 'knowingly and intentionally conspiring with Purdue Pharma and others to aid and abet misbranding of prescription drugs'. The firm entered into a deferred prosecution agreement, avoiding a criminal trial. A former senior partner at McKinsey, who pleaded guilty to obstruction of justice for destroying documents related to the firm's opioid work, faces up to 12 months in prison. Previously, in 2021, McKinsey agreed to pay $765 million in a similar settlement. The settlement reflects McKinsey's efforts to resolve the federal investigation into its involvement with opioid manufacturers during a spiraling addiction crisis.
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