Eli Lilly Agrees to Pay $690 Million to Settle Most Zyprexa Cases

INDIANAPOLIS - Eli Lilly & Co. said June 9 that it has reached an 'agreement in principle' with a group of plaintiff lawyers to settle 7,000 to 8,000 Zyprexa claims for $690 million.

The company said that the settlement, if finalized, will resolve the majority of Zyprexa (olanzapine) claims pending in the United States, including federal and state lawsuits, class actions and potential claims. The federal cases are consolidated for pre-trial discovery in the U.S. District Court for the Eastern District of New York before Senior District Judge Jack B. Weinstein (In re: Zyprexa Products Liability Litigation, MDL 1596 [E.D. …