Lilly, 3rd-Party Payors Reach $4.5M Deal In Zyprexa Case

Law360, New York (January 12, 2012, 7:28 PM EST) -- Eli Lilly & Co. secured approval Thursday of a $4.5 million settlement of claims brought by an insurer and five union health funds claiming they overpaid for the blockbuster antipsychotic drug Zyprexa because Lilly didn't reveal its adverse side effects.

U.S. District Judge Jack Weinstein approved the $4.5 million deal at a hearing in New York federal court Thursday, according to Lilly, which said that the settlement amount represented just a fraction of the estimated damages that the third-party payors had sought.

The third-party payor litigation...
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Case Information

Case Title

In re: Zyprexa Products Liability Litigation


Case Number

1:04-md-01596

Court

New York Eastern

Nature of Suit

Personal Inj. Prod. Liability

Judge

Jack B. Weinstein

Date Filed

April 19, 2004

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