April 13, 2022 — We will review the report by the Committee on Oversight and Reform, and will continue to cooperate with the Committee to address further questions.
We are steadfastly committed to protecting our clients' confidential information and guarding against conflicts of interest. In the public sector, we are also subject to our government clients’ conflict of interest requirements, and we review conflicts—both actual and potential—accordingly. If potential conflicts cannot be appropriately addressed, we will not do the work.
McKinsey's work for the FDA has focused on administrative and operational topics, including improvements to organizational structures, business processes and technology. We have not advised the FDA on regulatory decisions or on specific pharmaceutical products.
More broadly, 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. Last year we reached settlements with all 50 state Attorneys General in order to provide fast, meaningful support to communities across the United States that have been affected by the opioid crisis.
Since we stopped advising clients on opioid-related business in 2019, we have continued to improve our policies around governance and client selection. That year, we implemented a new client selection policy governing which clients we serve and on what topics. We have strengthened and scaled up our firm’s control functions, tripling the size of our risk, legal, and compliance teams since 2015 and hiring a new General Counsel with government service experience and a deep background in ethics and governance.
We stand behind the positive impact of our work.