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McKinsey & Co is under criminal investigation in the United States over allegations that the firm played a crucial role in fueling the opioid epidemic, news agency Reuters reported citing people in the know. The report claimed that the probe is focused on whether McKinsey engaged in a criminal conspiracy when advising Purdue and other pharmaceutical manufacturers on marketing strategies.
A logo of American multinational corporation McKinsey & Company is seen. (AFP) Read more: Bank holiday for Lok Sabha Election 2024: Banks in these cities will be closed on April 26
At the same time, the US Justice Department is also investigating whether McKinsey conspired to commit healthcare fraud as well as prosecutors are looking at whether the company obstructed justice, the report claimed.
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Although, prosecutors are far from making any charging decisions in their criminal investigation of McKinsey owing to a lot of documentation that needs to be sifted through, the report added.
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What we know about the McKinsey & Co probe?
The probe started several years ago before the onset Covid. Currently, it involves Justice Department officials in Washington, Massachusetts and Virginia, the report claimed. Both sides are in discussions to resolve the probe, it added.
What has McKinsey said so far on the allegations?
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In 2019, the company said it would no longer advise clients on any opioid-related businesses. McKinsey said. “We understand and accept the scrutiny around our past client service to opioid manufacturers. This work, while lawful, fell short of the high standards we set for ourselves.”
What about Purdue? What has it said on the probe?
Drugmaker Purdue pleaded guilty in 2020 to criminal charges over its handling of opioid painkillers but has not said anything so far on the allegations.
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