McKinsey to Pay at Least $500 Million in DOJ Opioid Probe (1)

McKinsey & Co. is nearing a deal with US prosecutors to pay at least $500 million to settle federal probes into its past work helping opioid makers boost sales, according to people familiar with the matter.

A settlement, which could be announced in the coming weeks, would resolve criminal and civil investigations by the Justice Department, said the people, who asked not to be identified discussing a confidential matter. The terms haven’t been finalized and could still change.

Representatives for the Justice Department and McKinsey declined to comment.

The settlement would add to penalties that McKinsey has already paid US ...