Lilly to Take Charge to Earnings Related to Pending Federal and State Investigations of Past... (all our stakeholders to intensifyefforts...)

Lilly to Take Charge to Earnings Related to Pending Federal and State Investigations of Past Practices

Date:10/21/2008

all our stakeholders to intensify efforts to resolve these issues. Moving our discussions with the government forward is a step towards focusing us on delivering quality, innovative medicines to serve unmet medical needs," he added.

In March 2004, the EDPA advised Lilly that it had commenced an investigation related to the company's U.S. marketing and promotional practices with respect to Zyprexa, Prozac(R), and Prozac Weekly(TM). In November 2007, Lilly received a grand jury subpoena from the EDPA for a broad range of documents related to Zyprexa. In addition, the State Medicaid Fraud Control Units of more than 30 states are coordinating with the EDPA in its investigation of any Medicaid-related claims relating to the marketing and promotion of Zyprexa. Eleven other states (Louisiana, Mississippi, Montana, New Mexico, Pennsylvania, South Carolina, Utah, West Virginia, Connecticut, Arkansas and Idaho) have filed lawsuits over Zyprexa and are not participating in the coordinated investigation.

The charge reflects the company's currently estimable exposure with respect to these matters. If the ongoing discussions are successfully concluded, the company expects that they would settle the Zyprexa-related federal claims, as well as similar Medicaid-related claims of states participating in the settlement. The company continues to cooperate with the government in these matters.

Separately, Lilly announced on October 7, 2008, that it had resolved a multi-state investigation under the consumer protection laws of 32 states and the District of Columbia (DC) related to the sales, marketing and promotion of Zyprexa for $62 million. In March, Lilly entered into a $15 million settlement with the State of Alaska, which concluded an ongoing trial involving various issues surrounding Zyprexa.

Zyprexa Background

Zyprexa is indicated in the United States for the short- and long-term treatment of schizophrenia, acute mixed or manic episodes of bipola
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Lilly to Take Charge to Earnings Related to Pending Federal and State Investigations of Past...(all our stakeholders to intensifyefforts...)