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April 19th, 2004
"Zyprexa Class Action Lawsuit Announced"
The filing of the first nationwide Zyprexa class action lawsuit has been announced against Zyprexa maker Eli Lilly and Company. The Zyprexa class action lawsuit represents all U.S. Zyprexa users. The most popular atypical antipsychotic mediation, Zyprexa has been linked to dangerous adverse effects including diabetes, hyperglycemia, and pancreatitis.
In 2003, the FDA requested Eli Lilly update the Zyprexa labeling to include hyperglycemia and diabetes warnings following a 2002 Duke University study showing a link between diabetes and Zyprexa. The British Medical Control Agency and the Japanese Health and Welfare Ministry have also issued warnings because of the reports of diabetes.
Zyprexa sales are still growing, with an increase of 15 percent to $1.1 billion in the first quarter. A third of Eli Lilly''s total global sales are attributed to Zyprexa, and in 2003, Zyprexa was the world''s third best selling drug with $4.8 billion in revenue. The outcome of Zyprexa lawsuits could greatly affect Eli Lilly''s financial condition because of the large impact Zyprexa has on its total revenue.
