Settlements
Eli Lilly Considers $1B Zyprexa Settlement
Posted Jan 31, 2008, 07:26 am CST
By Debra Cassens Weiss
Eli Lilly is discussing a possible $1 billion settlement of criminal and civil investigations into the company’s marketing of the anti-psychotic drug Zyprexa.
The $1 billion fine, which would be paid to state and federal governments, would be the largest ever paid by a drug company for improper marketing practices, the New York Times reports. The Wall Street Journal could not confirm the proposed settlement amount.
The company is under investigation for encouraging physicians to prescribe the medication to people with depression and dementia, even though it is approved only for schizophrenia and severe bipolar disorder. The company has already paid $1.2 billion to settle about 30,000 lawsuits by patients who claim the drug caused them to develop diabetes and other illnesses.