Eli Lilly & Co., after pleading guilty and agreeing to spend more than $2.6 billion to settle government and individual claims over its antipsychotic Zyprexa, still faces lawsuits over the drug that might cost the company another $2 billion.
Not part of the settlements were suits by 12 states and a class-action case brought by pension funds, insurance companies and labor unions seeking as much as $6.8 billion. Two state trials are set for this year. Settling all 12 might cost the company another $2 billion, and going to trial would cost more, said Patrick Burns, a spokesman for Taxpayers Against Fraud.
“The total nut on this could be four or five billion” if the company settles, Burns, who tracks the suits, said in an interview. “Their cheapest way of clearing the decks is to settle.”
Burns’s Washington-based group promotes lawsuits to fight fraud against the U.S. government.
The states claim Lilly withheld information about the side effects of Zyprexa, such as diabetes, and encouraged sales of the drug for unapproved, or off-label, purposes. The states asked for damages and fines for violation of laws against deceptive practices and false claims.
More at Bloomberg
Yet part of the previous plea bargain included:
-- While knowing the significant risk for weight gain posed by Zyprexa, Lilly minimized the connection between Zyprexa and weight gain in a widely disseminated videotape called "The Myth of Diabetes" which used "allegedly scientific studies of questionable integrity as well as the haphazard reporting of adverse events;" Link
1 comment:
Zyprexa claims being stonewalled
Where is the $1.42 billion Eli Lily Zyprexa settlement going as many victim claimants haven't been paid yet? It's the largest pharma-fraud-whistleblower case in US history.
Whoa,how are they going to defend themselves from little ole me?
They have three certified letters from me substantiating my claim. I am a classic case for compensation having taken the stuff for four years (for off-label PTSD). I paid thousands of dollars out of my own pocket in co-payments for the Zyprexa which gave me sudden onset diabetes in 2000 with a deadly A1C of 14.2 all documented at my site.
Eli Lilly has up to 250 lawyers just on their payroll in Indy; they have NEVER contacted me except in 2005 to get a release of my medical records. My doctor says, (get this) they never contacted him to verify the information.
There must be millions out there harmed by this drug.
Daniel Haszard http://www.zyprexa-victims.com
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