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Lilly says Zyprexa settlement cost $495 million

January 11, 2007
Eli Lilly and Co. revealed in a regulatory filing today that the recent settlement of a Zyprexa class-action lawsuit cost $495 million, according to Bloomberg. The Indianapolis pharmaceutical company announced Jan. 4 that it had reached the agreement on 18,000 claims, leaving 1,200 remaining to resolve.

The plaintiffs claimed the drug caused them to gain weight and ultimately develop diabetes.

Lilly said it settled in order to put the distraction behind it. The blockbuster schizophrenia drug generated $3.2 billion in the first three quarters last year.

In June 2005, Lilly paid $700 million to settle 8,000 claims.
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