Zyprexa suit

Eli Lilly agreed today to pay up to $500 million to settle 18,000 lawsuits from people who claimed they developed diabetes or other diseases after taking Zyprexa, Lilly

Eli Lilly agreed today to pay up to $500 million to settle 18,000 lawsuits from people who claimed they developed diabetes or other diseases after taking Zyprexa, Lillys drug for schizophrenia and bipolar disorder

Including earlier settlements over Zyprexa, Lilly has now agreed to pay at least $1.2 billion to 28,500 people who claim they were injured by the drug. At least 1,200 suits are still pending, the company said. About 20 million people worldwide have taken Zyprexa since its introduction in 1996.

The settlement covers cases filed in state and federal courts by 14 plaintiffs law firms or groups of firms, Lilly said. The federal suits have been overseen by a judge in Brooklyn, Jack B. Weinstein of the Eastern District of New York.

The settlement will not affect civil or criminal investigations pending over Zyprexa from state attorneys general and federal prosecutors, which are continuing.

Both Lilly and lawyers for plaintiffs said they were pleased with the agreement. With sales of $4.2 billion last year, Zyprexa is Lillys largest-selling drug and a major contributor to the company