Eli Lilly to settle Zyprexa suits
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Manufacturing News, Source : TheManufacturer.com
Published : 10 Jun 2005 20:38
Eli Lilly and Co. has reached agreement to settle lawsuits relating to the company’s schizophrenia drug Zyprexa.
The cost of the settlement could be as high as $690 million and will cover approximately 8,000 cases, or 75 percent of the suits involving this particular drug. The suit alleges the company did not warn consumers that the drug could cause diabetes-like symptoms.
Lilly contends that the medication’s label had listed the risk of high blood sugar and diabetes as a possible side-effects and finds the suits are without merit. Sidney Taurel, chairman, president and chief executive officer of Eli Lilly, said the company made the settlement to "reduce the significant uncertainties involved in litigating such complex cases."
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