Eli Lilly (LLY) has faced a stream of accusations about side effects from the use of Zyprexa, a drug for schizophrenia and bipolar disorder, including the development of diabetes as well as pushing unapproved use of the drug.
The 18,000 lawsuits filed by those who claim they had developed diabetes or other diseases have received an agreement to settle for $500 million. In total, Lilly has now agreed to pay at least $1.2 billion to 28,500 people who said they were injured by the use of the drug. There are still at least 1,200 suits still pending according to the company.
According to this NYTimes.com article, about 20 million people worldwide have taken Zyprexa since its introduction in 1996. The settlement will not effect continuing civil or criminal investigations.
Read this article from YubaNet.com to learn more about the way Lilly has handled the Zyprexa issue.
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