U.S. Department of Justice reaches $650 million settlement with McKinsey over Purdue Pharma consulting
Company: McKinsey & Company
Summary
On December 13, 2024, the U.S. Department of Justice announced that McKinsey & Company agreed to pay $650 million to resolve criminal and civil investigations into its consulting work for Purdue Pharma, the manufacturer of OxyContin. According to the DOJ, McKinsey advised Purdue on strategies to increase OxyContin sales, including a 2013 engagement that recommended ways to "turbocharge" sales. Under a five-year deferred prosecution agreement, McKinsey agreed to pay financial penalties, cease advising clients on the marketing, sale, or promotion of controlled substances, and implement enhanced compliance measures. The DOJ also announced that a former McKinsey senior partner agreed to plead guilty to obstruction of justice after destroying records related to the investigation.