Lilly Set To Hand Over $1.4B Zyprexa Payout: Report

Law360, New York (January 14, 2009, 12:00 AM EST) -- Eli Lilly & Co. is reportedly one step closer to finalizing a $1.4 billion 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 Indiana-based drugmaker, which set aside the amount in the third quarter of 2008 to brace for a possible settlement that would resolve Zyprexa-related federal claims and Medicaid-related claims, may agree to the deal as soon as Thursday, the New York Times reported Wednesday.

Angela Sekston,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.