McKinsey & Company consulting firm has agreed to pay $650 million to settle a federal investigation into its work for opioids manufacturer Purdue Pharma. The settlement was disclosed in court papers filed in Virginia on Friday. As part of the agreement with the U.S. Justice Department, McKinsey will avoid prosecution on criminal charges by paying the sum and adhering to specific conditions for five years. These conditions include refraining from any involvement in the sale, marketing, or promotion of controlled substances.
A former McKinsey senior partner has also agreed to plead guilty to obstruction of justice for deleting documents from his laptop upon learning of investigations into Purdue Pharma. Court filings revealed that Purdue paid McKinsey over $93 million over 15 years for various services, including strategies to enhance revenue from OxyContin.
