The McKinsey & Company logo is displayed at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 21, 2023.Â
Benoit Tessier | Reuters
McKinsey & Co. agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal probe into the company’s consulting work advising Purdue Pharma on how to increase sales of its addictive opioid drug OxyContin, a court filing said Friday.
A former top partner at McKinsey, Martin Elling, also agreed to plead guilty to obstruction of justice in the probe by the Department of Justice, according to a filing in U.S. District Court in Abingdon, Virginia.
The criminal charging document that McKinsey agreed to have filed by prosecutors alleges the consulting giant “knowingly and intentionally” conspired with Purdue Pharma “and others to aid and abet the misbranding of prescription drugs.”
The document also said McKinsey is accused, through the acts of a senior partner, “knowingly destroying and concealing records and documents with the intent” to impede the investigation by the U.S. Department of Justice.
McKinsey accepted responsibility, according to the deferred prosecution agreement.
CNBC has requested comment from McKinsey.
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