The McKinsey & Company logo is displayed during the 54th International Paris Air Show at Le Bourget Airport on June 21, 2023, near Paris, France.
Benoit Tessier | Reuters
McKinsey & Company. The company agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal investigation into how it advised Purdue Pharma on how to ramp up the opioid painkiller OxyContin, a court filing said Friday. Sales consulting work.
Former McKinsey senior partner Martin Elling also agreed to plead guilty to obstruction of justice in the Justice Department’s investigation, according to documents in U.S. District Court in Abingdon, Virginia.
McKinsey agreed with a criminal charging document filed by prosecutors that said the consulting giant “knowingly and knowingly” conspired with Purdue Pharma “and others to aid and abet the misbranding of prescription drugs.”
The filing also alleges that McKinsey, through the actions of then-partner Elling, was accused of “intentionally destroying and concealing records and documents with the intent” to obstruct the U.S. Department of Justice’s investigation.
Under a deferred prosecution agreement, McKinsey previously agreed to pay nearly $1 billion to settle lawsuits from states, local governments and other agencies over its opioid advisory and admitted liability for conduct alleged by federal prosecutors.
CNBC has asked McKinsey for comment.
This is breaking news. Please refresh for updates.
About The Author
