Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 4:09:34 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Eli Lilly Could Pay $1B Settlement

Posted Jan 30, 08 5:40 PM CST in Science & Health,  Crime & Courts,  US 

(Newser) – Drug-maker Eli Lilly could pay more than $1 billion to state and federal authorities to settle an investigation into how the company marketed an antipsychotic drug, the New York Times reports. In 2000-03, Lilly pushed doctors to prescribe Zyprexa as a treatment for age-related dementia—though the drug is approved to treat only schizophrenia and bipolar disorder.

The settlement would be the largest ever for a breach of the laws governing the promotion of drugs, the Times reports. Lilly refuses to confirm that the company is considering the payout. "We have no intention of sharing those discussions with the news media and it would be speculative and irresponsible for anyone to do so," a statement reads.

Source New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Big Pharma Faces Big Plunge

    Dec 6, 07 4:50 AM CST
    Big Pharma Faces Big Plunge Patent protections on some of the pharmaceutical industry's best-selling drugs, like Lipitor, Plavix and Singulair, are due to expire in the next several years, and drug manufacturers have little in the pipeline to replace them. The drug companies will lose billions—as much as half their combined revenue—to generic competitors, triggering an unprecedented industry crisis, reports the Wall Street Journal. More »

John Lechleiter, President and Chief Operating Officer of Eli Lilly Co., responds to a questions during a news conference at the company's headquarters in Indianapolis in this Dec. 18, 2007 file photo....   (Associated Press)
Bottles of Zyprexa pictured at a Eli Lilly and Co facility in Plainfield, Ind., Friday, Jan. 11, 2008. (AP Photo/Darron Cummings)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 3)

Tags

settlement  • Eli Lilly  • Zyprexa


Loading...

Loading...

Today's Most Popular


Other US Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »