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Lilly to pay Idaho $13M in drug settlement

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Idaho is getting $13 million as part of a settlement reached with Indianapolis-based Eli Lilly and Co. over its marketing of an anti-psychotic drug.

Attorney General Lawrence Wasden announced the deal Tuesday, calling it the largest financial settlement in a legal case since Idaho and other states ended a lawsuit with tobacco companies in 1998.

Idaho sued Eli Lilly over allegations the company used deceptive marketing strategies for the drug Zyprexa. The state accused the company of failing to warn doctors of the drug's serious side effects, a move that caused significant costs to the state's Medicaid program.

Idaho also claimed Zyprexa, approved for severe psychological disorders, caused consumers to gain weight, leading to other problems like diabetes.

Wasden said the $13 million will offset losses incurred by Idaho's Medicaid program.

Zyprexa, which boasts $4.7 billion in annual sales, has cost Lilly lots of legal trouble, sparking thousands of patient lawsuits as well as investigations by federal and state governments.

In January, Lilly agreed to pay $1.42 billion to federal and state governments to resolve a lawsuit over Zyprexa marketing brought by the U.S. Justice Department. Some states, including Idaho, did not join that settlement.

More than 30 states sued Lilly over Zyprexa. The only case that went to trial was in Alaska, which ended with a settlement that calls for Lilly to pay the state $15 million.

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  • Eli Lilly has received a huge criminal fine over their Zyprexa cash cow,add it all up comes to $4.6 billion, in Zyprexa settlements,fines,litigation.
    We put Lilly products in our babies they really need to clean up their act and quit with the white wash.

    Eli Lilly Zyprexa can cause diabetes
    I took Zyprexa a powerful Lilly schizophrenic drug for 4 years it was prescribed to me off-label for post traumatic stress disorder was ineffective costly and gave me diabetes.
    This is a powerful drug that can damage a young person physiologically for life.
    Please take with caution and learn as much as you can about side effects.

    Daniel Haszard

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

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  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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