Purdue Pharma, McKinsey Net Court Approval of Bankruptcy Deal

Purdue Pharma secured court approval for a $125 million settlement with McKinsey & Co. to resolve claims related to the firm’s advisory role in marketing the drugmaker’s opioids.

Judge Sean H. Lane of the US Bankruptcy Court for the Southern District of New York approved the deal during a Thursday hearing, finding that it was a fair and equitable compromise.

The consulting firm will contribute funds to a trust established under the OxyContin manufacturer’s $7.4 billion bankruptcy plan to compensate creditors. Lane approved the plan, which resolves litigation accusing Purdue of helping fuel the nationwide opioid crisis, last November.

McKinsey ...