McKinsey Settles Opioid Crisis Probe for $650 Million

McKinsey & Company has agreed to pay $650 million to settle criminal and civil investigations into its role in advising Purdue Pharma on how to increase sales of the addictive drug OxyContin, contributing to the opioid crisis in the U.S. The settlement will allow McKinsey to avoid prosecution if it adheres to certain conditions, including ceasing work related to controlled substances. The firm was accused of developing strategies to 'turbocharge' sales, despite knowing the risks associated with opioids. Additionally, a former senior partner at McKinsey, Martin Elling, will plead guilty to obstruction of justice for destroying documents. McKinsey expressed profound regret for its past involvement, acknowledging the harm caused by opioids. This settlement is part of broader efforts to hold accountable those implicated in the opioid crisis, which has resulted in over $50 billion in settlements from various parties.