The United States Attorney's Office plans to announce the resolution of criminal and civil investigations into McKinsey & Company's work with Purdue Pharma on Friday.
A press conference will be held at 12 p.m. at the Moakley Federal Courthouse in Boston, and will be livestreamed in the video player above.
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NBC News and CNBC, citing court filings, reported Friday morning that McKinsey has agreed to pay $650 million in a five-year deferred prosecution agreement that will resolve a federal criminal probe into the company's consulting work advising Purdue Pharma on how to "turbocharge" sales of its addictive opioid drug OxyContin.
The painkillers have helped fuel the deadly U.S. opioid epidemic.
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A former senior partner at the consulting firm, Martin Elling, has also agreed to plead guilty to obstruction of justice next month in the Department of Justice's probe, CNBC reports, citing a filing in U.S. District Court in Abingdon, Virginia.
According to the criminal charging document, McKinsey "knowingly and intentionally" conspired with Purdue Pharma "and others to aid and abet the misbranding of prescription drugs," CNBC reports. Through then-partner Elling, McKinsey is also accused of "knowingly destroying and concealing records and documents with the intent" to impede the DOJ's investigation.
Elling is scheduled to enter his plea on Jan. 10, 2025, according to NBC News.
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CNBC reports that McKinsey accepted responsibility for the alleged conduct in the deferred prosecution agreement. The consulting giant has previously agreed to pay almost $1 billion to settle lawsuits by states, local governments and others related to its opioid consulting.
CNBC has reached out to McKinsey for comment.
CNBC and NBC News contributed to this report
