Zyprexa News
Lilly Troubles Not Over With Recent Settlement
- January 18, 2007
Eli Lilly & Co. recently announced plans to settle 18,000 Zyprexa lawsuits, the majority of which alleged that the company failed to provide adequate warnings as to the increased risk of diabetes associated with the bestselling antipsychotic. The drug maker still faces more than 1,200 additional complaints.
The company said that the $500 million settlement agreement was made with 14 groups of law firms representing Zyprexa claimants. Last year, Lilly settled 10,500 similar lawsuits for $700 million.
Despite this new settlement, the company’s legal troubles aren’t over.
“What’s left is a significant number of seriously injured plaintiffs’ cases pending in state and federal court, and you have a half-dozen or more attorney-general cases and you have third-party payer class-action cases,” said attorney William Audet.
Connecticut Attorney General Richard Blumenthal is one of several attorneys-general looking into Zyprexa’s marketing practices. He said that the company could face a “potentially huge claim” for promoting Zyprexa to patients for unapproved uses.
Suits brought by third-party payers claiming that they would never have paid premiums for Zyprexa if they had known of the serious risks are also plaguing the company.
Zyprexa was Lilly’s top-selling drug in 2005, bring in $4.2 billion in revenue for the company. The drug has been linked to an increased risk of hyperglycemia, diabetes, pancreatitis, and other serious side effects.
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Whether
or not Zyprexa and similar atypical antipsychotic drugs are linked to diabetes
is a question that will be answered in the Zyprexa lawsuits that have been
filed. Patients have reported deadly instances of Zyprexa side effects. There
are 288 reported cases of Zyprexa diabetes cases, including 23 deaths.
Zyprexa maker Eli Lilly has enjoyed large success with Zyprexa, with the drug
currently the world’s top selling schizophrenia medication. The Zyprexa
side effects causing Zyprexa lawsuits may begin slowing the company’s
current financial success. For more information on