-January 31, 2008
Eli Lily and federal prosecutors are reportedly in negotiations for a settlement regarding the company’s marketing of Zyprexa.
The company’s marketing of this antipsychotic medication has been controversial and could force Lily to pay more than $1 billion to the federal and state government.
If the deal goes through, Lily could end up paying the largest fine ever paid by a drug manufacturer for breaking federal laws relating with the marketing and promotion of medicines.
Company Accused of False Marketing
From 2000 to 2003 Eli Lily reportedly encouraged doctors to prescribe Zyprexa to patients suffering from age-related dementia.
The medication was also marketed as being a treatment for those with bipolar disorder and previously suffered from depression.
Although physicians are permitted to prescribe drugs for any use once they’ve been marketed, it is illegal for drug makers to false advertise their medications for uses not approved by the FDA.
Risks Associated with Zyprexa
In recent years Zyprexa has been targeted for its serious side effects and has only been FDA approved to treat schizophrenia and severe bipolar disorder.
In 2007, Zyprexa had sales of more than $4.8 billion worldwide, making it Lily’s highest grossing medication and one of the world’s top-selling drugs.
The fine Lily is facing would be in addition to the $1.2 billion that they have already paid in over 30,000 lawsuits from consumers who claimed Zyprexa caused them to develop diabetes and other illnesses.
(Source: New York Times)
Have you been harmed by Zyprexa? If so, please contact us to speak with an experienced attorney who will evaluate your case for FREE and ensure that you are compensated for your injuries.
