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Zyprexa Victims To Receive Payout

August 11, 2006

Eli Lilly and Co., the manufacturer of the top-selling drug Zyprexa, is expected to begin sending out letters this month, notifying victims of the drug how much they will receive for their pain and suffering.

The settlement, which is Lilly's largest ever, will cover 8,362 claims. The company plans to pay the claims out of a $700 million settlement fund it set up specifically for that purpose.

According to New York attorney Chris Seeger, most victims will receive settlements of more than $100,000 - depending on the extent of their injury. Fewer than 1,000 victims, he said, are expected to receive the base award of $5,000.

"The awards are significant," Seeger said. "People are anxious to get paid. They're very anxious to receive their compensation."

Some victims have accumulated tens of thousands of dollars in medical expenses. Tom Beaury, an information technology worker, has amassed $30,000 in Zyprexa-related medical debt.

Even though the checks are expected to follow within weeks of the initial notice, not all victims will receive their settlement at that time. A few state governments are holding up the payouts, saying they deserve a share of the settlement to pay Medicaid claims made by victims.

"A number of states are giving us a hard time over.lien amounts. We'll be forced to hold back (payments) in states where we can't reach agreement," said Seeger.

The settlement does not cover all of those who were injured by the drug. It covers about 75 percent of claimants, but hundreds of others are awaiting their day in court. Lilly has set aside another $300 million to cover potential liability in the outstanding cases.

Injured by Zyprexa? You may be entitled to compensation for your losses and suffering. Please contact us today to learn more.

 

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