McKinsey Nears $600 Million Settlement Over Opioid Crisis Allegations

McKinsey & Co is negotiating a deferred prosecution agreement with U.S. authorities to resolve a criminal investigation tied to its role in boosting opioid sales, allegedly contributing to the crisis. The settlement, possibly exceeding $600 million, would address both criminal and civil claims.

McKinsey & Co is on the verge of finalizing a deferred prosecution agreement to address a U.S. criminal investigation tied to its work aiding opioid manufacturers in increasing sales, actions that allegedly exacerbated the addiction crisis, according to insiders.

The settlement, which could surpass $600 million, is expected to resolve the lengthy U.S. Department of Justice probe encompassing both criminal and civil allegations. Terms of the agreement suggest dismissing criminal charges after a period, contingent on the company's compliance.

While McKinsey and Justice Department representatives have declined to comment, the settlement's disclosure timeline remains uncertain as talks continue. The agreement follows previous settlements exceeding $1 billion, addressing claims of McKinsey's role in sparking the opioid epidemic.

(With inputs from agencies.)