Lilly Resolves Multi-State Investigation of Zyprexa
Posted on: Wednesday, 8 October 2008, 09:00 CDT
Eli Lilly and Company has resolved a multi-state investigation involving 32 states and the District of Columbia related to the sales, marketing and promotion of its antipsychotic medication Zyprexa.
While there is no finding that Lilly has violated any provision of the state laws under which the investigations were conducted, the company said that it will pay $62 million to be divided among the settling states. This payment will result in a charge in the third quarter of $0.04 per share.
In addition, Lilly will undertake certain commitments regarding Zyprexa for a period of six years following the agreement via consent decrees filed in the various states. These commitments relate to the company's promotional practices, dissemination of medical information, funding of continuing medical education and grants related to Zyprexa, and continued disclosure of Zyprexa clinical trials and their results.
Lilly would also agree to provide signatory attorneys general with information related to compensation made to healthcare professionals who have received more than $100 annually from the company for promotional speaking or consulting regarding Zyprexa in the US.
The 32 states participating in the agreement are Alabama, Arizona, California, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Vermont, Washington and Wisconsin, as well as the District of Columbia.
Eleven other states (Louisiana, Mississippi, Montana, New Mexico, Pennsylvania, South Carolina, Utah, West Virginia, Connecticut, Arkansas and Idaho) have filed lawsuits over Zyprexa and are not covered by this agreement.
Zyprexa is indicated in the US for the short- and long-term treatment of schizophrenia, acute mixed or manic episodes of bipolar I disorder, and maintenance treatment of bipolar disorder.
Robert Armitage, Lilly's senior vice president and general counsel, said: "We believe all of the parties involved share an interest in putting this dispute behind us. From our standpoint, it's certainly in the best interests of the company and the patients, care-givers and healthcare professionals who continue to rely on this life-saving medication."
Source: Datamonitor
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User Comments (1)
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Posted by Danny Haszard on 10/08/2008, 14:08 Lilly's top blockbuster Zyprexa is implicated in 'causing' diabetes and Lilly's other blockbuster Byetta helps to treat the diabetes caused by Zyprexa. Zyprexa has generated a lot of bad press for Eli Lilly and they still have unresolved Zyprexa settlement claims. Eli Lilly is 'reaping the whirlwind' for aggressive marketing of Zyprexa that has caused suffering and deaths. -- Daniel Haszard Zyprexa patient who got diabetes from it. http://www.zyprexa-victims.com |
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