Zyprexa Settlement

Eli Lilly & Company said that it had agreed to pay $690 million to settle about 8,000 lawsuits filed by people who claimed they developed diabetes and other diseases after taking Zyprexa, a medication for schizophrenia and bipolar disorder that is Lilly's biggest-selling drug. The settlement will cover 75 percent of all the Zyprexa-related suits against Lilly in the United States, according to the company, which said it would continue to defend the other cases. After lawyers' fees and costs, which will probably total more than $250 million, the average plaintiff will receive about $50,000 in the settlement. The settlement covers both state and federal cases. Because the cases are being settled individually, rather than collectively as part of a class action, the settlement does not require judicial approval, according to Christopher Seeger, a lawyer whose firm represents 900 plaintiffs.