McKinsey agrees to pay $650 mn for helping Purdue Pharma boost opioid sales

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McKinsey agrees to pay $650 mn for helping Purdue Pharma boost opioid sales - Business Standard

Quick Summary:

McKinsey & Company consulting firm has agreed to pay USD 650 million to settle a federal investigation into its work to help opioids manufacturer Purdue Pharma boost the sales of the highly addictive drug OxyContin, according to court papers filed in Virginia on Friday.

A former McKinsey senior partner, Martin Elling, has also agreed to plead guilty to obstruction of justice for deleting documents from his laptop after he became aware of investigations into Purdue Pharma, the maker of OxyContin that was then a client, according to the filings.

As part of the deal with the US Justice Department, McKinsey will avoid prosecution on criminal charges if it pays the sum and follows certain conditions for five years, including ceasing any work on the sale, marketing or promotion of controlled substances.