PHARMACY

Eli Lilly settles with 33 states over Zyprexa-related expenses

BY Alaric DeArment

NEW YORK Thirty-three states will receive $62 million from Eli Lilly in a settlement of a case against the Indianapolis-based company over its marketing of the psychiatric drug Zyprexa.

The plaintiffs, led by the attorneys general of Illinois and Oregon, alleged that Lilly marketed Zyprexa (olanzapine) for uses other than those for which it had approval. The drug is approved for treating schizophrenia and bipolar disorder. The attorneys general said Lilly had encouraged doctors to prescribe the drug to patients who did not need it.

Federal prosecutors in Philadelphia have also filed criminal charges against Lilly for alleged off-label marketing of the drug. In that case, the company is expected to pay more than $1 billion in fines and restitutions to various states and the federal government.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
PHARMACY

Rite Aid reports cash dividend payout for preferred stock

BY Michael Johnsen

CAMP HILL, Pa. Rite Aid on Monday declared a cash dividend of $0.4049 per share on its 5.5 percent Series I Mandatory Convertible Preferred Stock for the period commencing on Aug. 1, 2008 through Nov. 16, 2008.

The dividend is payable on Nov. 17, 2008 to shareholders of record as of Oct. 15, 2008, the company stated.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
PHARMACY

Deciphera, Lilly partner to test compounds in treatment of cancer

BY Alaric DeArment

INDIANAPOLIS Eli Lilly and Deciphera Pharmaceuticals said Friday they would collaborate to investigate a group of Deciphera compounds as a potential cancer treatment.

 

The companies said they would investigate Deciphera’s preclinical B-Raf kinase inhibitors as cancer treatments, combining Deciphera’s drug-discovery resources and Lilly’s drug discovery, development and commercialization resources.

 

 

“This collaboration is further evidence of Lilly’s ongoing commitment to oncology research,” Lilly vice president for discovery research and clinical investigation Dr. William Chin said. “We look forward to working with Deciphera to leverage their B-Raf kinase inhibitor program, with the ultimate goal of developing promising drug candidates for cancer patients.”

 

 

As part of the deal, Lilly will obtain exclusive worldwide rights to any products developed as part of the collaboration, while Deciphera will receive an upfront payment and research funding, as well as up to $130 million in development, regulatory and sales milestone payments.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?