McKinsey nears $500 million deal with U.S. over opioid advice
McKinsey & Co is close to a big money deal with U.S. officials about its past work with opioid makers. The deal might end long-running federal probes into the firms role in the opioid problem
McKinsey & Co‚ a top consulting firm is on the edge of a deal with U.S. prosecutors. The agreement might cost them more than $500 million (this would end federal probes into their past work with opioid producers) Sources close to the talks shared this info
The deal which isnt final yet would put an end to U.S Justice Department criminal and civil investigations. However‚ the timing for any announcement remains unclear‚ and the deals terms could still change as talks go on
Federal prosecutors have been looking into McKinseys part in the opioid issue. Theyʼre focusing on how the firm advised OxyContin maker Purdue Pharma and other drug companies. The probe is checking if McKinsey took part in a criminal plot when giving advice to drug makers on how to sell more prescription painkillers — which led to wide-spread addiction and deadly overdoses
McKinsey has already made deals totaling nearly $1 billion to settle many opioid lawsuits and other related legal actions. These settlements include:
- All 50 states
- Washington‚ D.C
- U.S territories
- Various local governments
- School districts
- Native American tribes
- Health insurers
About 5 years ago McKinsey said it would stop giving advice to clients on opioid-related businesses. The company keeps saying that none of the settlements mean they admit to any wrongdoing or liability
Our past work was lawful and we stand behind it
This potential new agreement shows the ongoing fallout from Americas opioid crisis‚ which has affected countless lives and communities across the nation
