McKinsey Settles for $650 Million in Opioid Crisis Accountability

McKinsey & Co will pay $650 million to resolve a U.S. Department of Justice investigation into its role in advising OxyContin maker Purdue Pharma. The company entered a deferred prosecution agreement in a rare corporate prosecution related to the opioid crisis. Former partner Martin Elling will plead guilty to obstruction of justice.

McKinsey & Co has agreed to a $650 million settlement with the U.S. Department of Justice following an investigation into its consulting services for Purdue Pharma, OxyContin's manufacturer.

The settlement involves a deferred prosecution agreement filed in a Virginia federal court, marking a significant corporate prosecution in the marketing of addictive opioids that aggravated the U.S. opioid crisis.

Additionally, former McKinsey senior partner Martin Elling is set to plead guilty to obstruction of justice, as revealed in court documents.

(With inputs from agencies.)