McKinsey & Company to pay $650 million in federal opioids investigation
This illustration image shows tablets of opioid painkiller Oxycodon delivered on medical prescription taken on September 18, 2019 in Washington,DC. - Millions of Americans sank into addiction after using potent opioid painkillers that the companies churned out and doctors freely prescribed over the past two decades. Well over 400,000 people died of opioid overdoses in that period, while the companies involved raked in billions of dollars in profits. And while the flood of prescription opioids into the black market has now been curtailed, addicts are turning to heroin and highly potent fentanyl to compensate, where the risk of overdose and death is even higher. (Photo by Eric BARADAT / AFP) (Photo credit should read ERIC BARADAT/AFP/Getty Images)
WASHINGTON (AP) — McKinsey & Company consulting firm has agreed to pay $650 million to settle a federal investigation into its work for opioids manufacturer Purdue Pharma, according to court papers filed in Virginia on Friday.
McKinsey has also entered into a deferred prosecution agreement to resolve criminal charges, including that it conspired with Purdue Pharma to aid in the misbranding of prescription drugs.
A former McKinsey senior partner has also agreed to plead guilty to obstruction of justice charges, according to the court papers.
McKinsey representatives didn’t immediately respond to phone and email messages on Friday.
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