Business ProfileforMcKinsey & Co.

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

On 2/04/2021, New York Attorney General Letitia James co-led a coalition of nearly every attorney general in the nation in delivering more than $573 million toward opioid treatment and abatement to stem the opioid crisis that has ravaged families across the country. An agreement and consent judgment with McKinsey & Company — one of the world’s largest consulting firms — filed today resolves investigations by the attorneys general into the company’s role in working for opioid companies, helping those companies promote their drugs, and profiting millions of dollars from the opioid epidemic. The funds from today’s agreement — more than $32 million of which will go to New York state — will be used towards abating the effects of excessive opioid use in the participating states. This is the first multistate opioid agreement to result in substantial payment to states to address the crisis.

In addition to providing more than $573 million, minus payment of costs, to address the opioid crisis, today’s agreement — filed simultaneously by 47 states, the District of Columbia, and five U.S. territories — calls for McKinsey to release tens of thousands of its internal documents detailing its work for OxyContin manufacturer Purdue Pharma, as well as other opioid manufacturers, for public disclosure online. Additionally, McKinsey agreed to adopt a strict document retention plan, continue its investigation into allegations that two of its partners tried to destroy documents in response to investigations of Purdue Pharma, implement a strict ethics code that all partners must certify each year, and stop advising companies on potentially dangerous opioid-based Schedule II and III narcotics.