Payment would significantly raise cost to firm of its past work for opioid makers
McKinsey is close to paying more than $600mn to settle a criminal investigation into its work advising US opioid manufacturers on how to boost sales, following claims it fuelled the country’s addiction crisis. The US Department of Justice has been examining whether McKinsey’s work amounted to a criminal conspiracy against the healthcare system, and whether it obstructed justice, said people familiar with the probes.
A payment of $600mn would dramatically increase the cost to McKinsey of its historic work for opioid manufacturers including OxyContin maker Purdue Pharma, for whom its consultants promised to “turbocharge” sales. The firm has paid close to $1bn since 2021 in litigation over its opioid work, including a $640mn settlement with the 50 US states. Other lawsuits remain outstanding.
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