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Lilly Settles Stroke and Diabetes Zyprexa Claims

Posted by Staff Writer
Friday, June 29, 2007 8:53 AM EST
Category: Major Medical
Tags: Defective Drugs, Antidepressants and Other Psychiatric Drugs

Lilly Settles Zyprexa Claims

Updated June 2007- Eli Lilly established this month a class settlement fund worth nearly $700 million for the nearly 8,000 plaintiffs who would agree to settle their claims against the drugmaker for their use of the prescription drug Zyprexa. Zyprexa, also known as olanzapine, is an atypical antipsychotic drug used in the treatment of schizophrenia, bipolar disorder, and other acute manic episodes. Zyprexa is also used in the off-label treatment of aggression from dementia from Alzheimer’s disease.

This settlement by Eli Lilly & Co. marks a major step in the move toward resolving the products liability claims associated with Zyprexa. While insisting that the claims were unworthy of merit, Lilly Chairman & CEO Sidney Taurel maintained that settling these products liability claims for Zyprexa was urgent for the well-being of the company.

“Our decision to settle these claims does not change the fact that Zyprexa has and will continue to improve the lives of millions of patients who are suffering from schizophrenia and bipolar disorder,” said Taurel in a statement.

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