Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Eli Lilly Could Pay $1B Settlement

Fine for illegally promoting antipsychotic drug Zyprexa would be biggest ever

By Sam Gale Rosen,  Newser Staff

Posted Jan 30, 2008 5:40 PM CST

(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.

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.  The drug maker on Tuesday, Jan. 29, 2008 said its fourth-quarter profit surged from a year-ago period which...
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)
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
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Big Pharma Faces Big Plunge

Disgraced Doctors Land at Big Pharma

$75M in Prescription Drugs Snatched in Warehouse Heist

Big Pharma Flouts Laws on Off-Label Uses

Novartis Acquires Plavix Rival


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne