McKinsey & Company agreed to pay $650 million in a deferred prosecution settlement that may resolve a federal prison probe into the corporate’s consulting work advising Purdue Pharma on find out how to enhance gross sales of its opioid painkiller OxyContin, a court docket submitting stated Friday.
A former high companion at McKinsey, Martin Elling, additionally agreed to plead responsible to obstruction of justice subsequent month within the probe by the U.S. Department of Justice, in keeping with a submitting in U.S. District Court in Abingdon, Virginia.
The prison charging doc that McKinsey agreed to have filed by prosecutors alleges the consulting big “knowingly and deliberately” conspired with Purdue Pharma “and others to assist and abet the misbranding of pharmaceuticals.”
The doc additionally stated McKinsey is accused, via the acts of its then-partner Elling, of “knowingly destroying and concealing information and paperwork with the intent” to impede the investigation by the Department of Justice.
McKinsey, which beforehand agreed to pay nearly $1 billion to settle lawsuits by states, native governments and others associated to its opioid consulting, accepted duty for the conduct alleged by federal prosecutors, in keeping with the deferred prosecution settlement.
CNBC has requested remark from McKinsey.