McKinsey & Co. released the following statement after the Department of Justice resolved its investigation into the firm’s past client service to Purdue Pharma.

December 13, 2024 – We are deeply sorry for our past client service to Purdue Pharma and the actions of a former partner who deleted documents related to his work for that client. We should have appreciated the harm opioids were causing in our society and we should not have undertaken sales and marketing work for Purdue Pharma. This terrible public health crisis and our past work for opioid manufacturers will always be a source of profound regret for our firm.

In the deferred prosecution agreement with DOJ, we have agreed to accept responsibility for our conduct and agreed to the facts and allegations underlying the charges against McKinsey U.S. for misdemeanor conspiracy to aid and abet in misbranding and felony obstruction by a now-former senior partner. In addition, McKinsey U.S. has agreed to settle a related civil False Claims Act investigation and to enter into a Corporate Integrity Agreement with the Office of Inspector General at the Department of Health and Human Services. Under the terms of the deferred prosecution agreement, McKinsey will: 

• Pay $650 million over the next five years, which includes a $2 million payment to the Virginia Medicaid Fraud Control Unit and the forfeiture of all fees received from Purdue Pharma; 
• Maintain an enhanced compliance program to prevent and detect violations of law; 
• Refrain from any work related to the marketing, sale, promotion, or distribution of controlled substances; 
• Be subject to contempt proceedings if we violate any provision of the agreement; 
• Be subject to DOJ and HHS/OIG oversight of our compliance obligations; and 
• Continue to cooperate with the DOJ’s investigation.

Today’s resolution brings closure to this chapter in our firm’s history. Since these issues first arose, we have significantly enhanced our risk management processes to ensure we never find ourselves in this situation again, including by introducing industry-leading client service policies and a revised code of conduct that leaves no doubt about the expectations of every one of our colleagues, alongside a substantial financial investment in our control functions. Though we wish we had taken these steps sooner, we are committed to building on them to ensure that McKinsey sets the standard for accountability and compliance across our profession.