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October 21, 2024

McKinsey Close to Settling U.S. Opioid Investigations

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According to a report from Reuters, the consulting firm McKinsey & Co is close to an agreement with U.S. prosecutors to pay more than $500 million to settle investigations into past work that is alleged to have contributed to the opioid epidemic.

The probe examines whether McKinsey engaged in a criminal conspiracy when advising pharmaceutical manufacturers on marketing strategies to boost sales of prescription opioids that led to widespread addiction and fatal overdoses. McKinsey already reached separate agreements totaling nearly $1 billion to settle other opioid lawsuits involving all 50 states, as well as other entities.

If this current deal is accepted, it would resolve criminal and civil probes currently conducted by the U.S. Justice Department. The timeframe and terms for this deal could still change.

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