Chemistry and Industry - Lilly settles over Zyprexa
Eli Lilly is to settle more than 18 000 product liability claims against its lead product, the anti-psychotic drug Zyprexa (olanzapine) for schizophrenia and manic depression. The lawsuits mainly revolve around a warning linking the drug with diabetes not being adequately displayed in the package insert.
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In September 2003, the US Food and Drug Administration ordered Lilly to add a warning. Lilly is not disclosing details, but has said that the total amount to be paid will be substantially less than the $700m paid for over 8 000 claims in a June 2005 settlement. CEO Sidney Taurel said the claims are without merit, and Lilly has vowed to vigorously defend Zyprexa in some 1 200 remaining product liability cases. Pharma analyst Jonathan Goodall of Globallnsight said the sheer number of claims that this agreement resolves represents a significant positive for the company, but notes that Lilly still faces claims from third-party payer groups, who are seeking damages amid claims that they would not have paid a premium for Zyprexa had they been adequately informed of the drug’s potential adverse effects. Sales of Zyprexa, which was approved in 1996 and has been used by more than 20 million people, reached $4.2bn in 2005.
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