McKinsey agrees to pay $650 million to promote OxyContin sale: "Our past work for opioid manufacturers will always be a source of profound regret"

McKinsey & Company reached an agreement with the Department of Justice to pay $650 million to avoid criminal prosecution for its role in exacerbating the opioid crisis by advising pharmaceutical companies like Purdue Pharma, the maker of the painkiller OxyContin.

Under the agreement filed with a Virginia court on Friday, the U.S. company will be under supervision for five years. Among the conditions it must adhere to is a ban on working with the sale, promotion, or distribution of controlled substances, according to AP.

Additionally, a former associate pleaded guilty to deleting information after learning that Purdue Pharma was under investigation. According to court documents, McKinsey has accumulated more than $1 billion in out-of-court settlements since 2019.

In its lawsuit against the consulting firm, the New York Attorney General's Office accused McKinsey of driving OxyContin sales, primarily by advising a focus on higher dosages, which were more profitable and also the most addictive.

"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," McKinsey said in a statement, in which it said it was "deeply sorry. This terrible public health crisis and our past work for opioid manufacturers will always be a source of profound regret for our firm."

The Centers for Disease Control and Prevention (CDC) reports that more than 700,000 people died from opioid overdoses between 1999 and 2022, whether from prescription or illegal use.