McKinsey is going to be paying “at least $500 million” to settle probes into the company about its role in helping opioid makers boost their sales.
The settlement would add to penalties McKinsey has already paid to U.S. states for its work with opioid manufacturers, according to Bloomberg.
In 2021, the firm agreed to pay hundreds of millions to settle claims it contributed to the opioid crisis through sales analysis and marketing advice. McKinsey, which reported $16 billion in revenue last year, denied wrongdoing, stating its work was legal and that it stopped consulting for opioid makers in 2019.
Last May, McKinsey said in a statement: “Our past work for opioid manufacturers, while lawful, fell short of the high standards we set for ourselves. We have implemented a rigorous client selection policy and spent approximately $1 billion building, enhancing, and operating our risk, legal, and compliance functions since 2018.” […]
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