September 28, 2006

Indystar News, "$700M Zyprexa deal OK'd by judge"

         A federal judge has given his blessing to Eli Lilly and Co.'s complex $700 million settlement with Zyprexa patients, who should see the money soon after lawyers and Medicare and Medicaid take their cuts.
         It's the largest liability settlement in the history of the Indianapolis drug company. And it could grow. Since the settlement was announced in June 2005, hundreds of additional complaints by Zyprexa patients have been filed against Lilly.
         The judge's order includes two rulings favorable to the 8,362 claimants, many of whom are mentally ill. One order said state Medicaid agencies must pick up part of the tab for lawyers' fees, which means claimants won't bear the entire legal bill. The other prohibits those agencies from including the cost of Zyprexa pills in figuring their cut of the payouts to patients with Medicaid coverage.