Lilly Takes $1.4B Charge In Settlement Anticipation

Law360, New York (October 21, 2008, 12:00 AM EDT) -- Eli Lilly & Co. will take a $1.4 billion charge in the third quarter to brace for a possible impending settlement with the U.S. Attorney's Office for the Eastern District of Pennsylvania and 30 states regarding the company's promotion and marketing of the anti-psychotic treatment Zyprexa, the company said Tuesday.

The Indiana-based drugmaker said that it is in “advanced discussions” to resolve the probe. As a result, it said it would record a charge in the third quarter of 2008 of $1.415 billion, or $1.29 a...
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