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Schaeffer's Street Stories: Eli Lilly & Co. Finally Settles Zyprexa Lawsuit


Published on 2009-01-15 11:42:41, Last Modified on 2009-01-15 11:43:01 - Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--Investors in Eli Lilly & Co. (NYSE: LLY) may be finally sighing with relief as the lawsuit against the company regarding its antipsychotic drug Zyprexa has drawn to a close, though the news isn't great. The pharmaceutical giant has agreed to pay $1.42 billion, and pleaded guilty to a criminal charge in a long-awaited settlement with federal prosecutors who accused Lilly of illegally marketing Zyprexa.

Eli Lilly will pay $615 million to settle a criminal investigation and nearly $800 million to resolve civil investigations related to Zyprexa - $438 million to the federal government and $362 million available for settlements with states.

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