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07/23/2014: "Lilly to Reach Deal with Feds?"

Filed under: Disorders,Legal/Law,Local (Central IN) News,Pharmacology,psychiatrist,psychiatry,Rx Meds: Zyprexia,Uncategorized " kurtglmft @ 1:40 pm
Tags: Eil Lilly, Justice Department, Lilly, New York Times, Tarra Ryker, Zyprexa

Maybe, but no one is talking, according to the Fort Wayne Journal Gazette, citing the New York Times. Here is the background:

Zyprexa was Lilly's top selling drug last year. It rang up $4.8 billion and accounted for 25 percent of the company's total sales, but it also has brought the company many legal headaches.

Beginning in late 2006, a series of articles in the Times said Lilly downplayed the drug's risks and marketed it for uses unapproved by the Food and Drug Administration.

Attorneys general from 30 states have subpoenaed documents detailing Lilly's sales, marketing and promotional practices for Zyprexa as part of a civil investigation under state consumer protection laws.

The drug also has faced thousands of product liability claims from patients, many alleging the company did not adequately warn patients taking the medication of a heightened diabetes risk.

And here is what is being said:

Lilly spokeswoman Tarra Ryker declined to elaborate on the possibility of a settlement when reached by phone.

“We are cooperating with the government in these investigations, and the discussions around those are confidential,” she said. “We’ve said pretty much all we’re going to be able to say on this.”

She also declined to comment on the payment amount.

"We don't know where the information came from," she said.

The Times reported that federal prosecutors in Philadelphia are leading the settlement talks for the government, in consultation with Justice Department headquarters in Washington.

The amount being bantered around is 1 Billion dollars.

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