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
Eli Lilly Could Pay $1B Settlement
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...   (Associated Press)

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. (Read more Eli Lilly stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.