McKinsey & Company Settles Opioid Case for $650 Million

McKinsey & Company has agreed to pay $650 million to settle a federal investigation over its consultancy work for Purdue Pharma, an opioid manufacturer. The firm also entered a deferred prosecution agreement for related criminal charges. A former partner will plead guilty to obstruction of justice.

McKinsey & Company has reached a $650 million settlement in a federal investigation focused on its consulting services for Purdue Pharma, a notorious opioid manufacturer, as per court documents filed in Virginia.

In addition, McKinsey has entered into a deferred prosecution agreement to resolve criminal allegations, which include conspiring with Purdue Pharma to misbrand prescription medications.

A former senior partner of McKinsey is expected to plead guilty to charges of obstruction of justice, based on court filings. Company representatives were unresponsive to requests for comment on Friday.

(With inputs from agencies.)