AstraZeneca Settles Bulk Of Seroquel Diabetes Claims

Law360, New York (July 28, 2011, 12:51 PM EDT) -- AstraZeneca Pharmaceuticals LP has resolved nearly all suits accusing its blockbuster schizophrenia and bipolar disorder drug Seroquel of increasing the risk of diabetes, settling many claims brought in Florida multidistrict litigation but still facing holdouts in California courts, the company said Thursday.

The U.K.-based pharmaceutical giant said in a quarterly earnings report released Thursday that it had settled more than 28,400 Seroquel suits, with about 250 product liability claims remaining in the U.S. In the second quarter alone, AstraZeneca set aside $55 million to tackle Seroquel...
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