The firm of Reich & Binstock is close to wrapping up a settlement with Eli Lilly, the manufacturer of the antipsychotic drug, Zyprexa. This drug is commonly used in the treatment of schizophrenia and other psychiatric disorders. Though this drug is highly effective for it’s purpose, one side effect is the onset of diabetes, further complicating the lives of these fragile patients.
Eli Lilly settled with the Zyprexa clients for $700 million. Of the over 500 potential claims we reviewed, Reich & Binstock earned approximately $13 million for their Plaintiff’s.
As far as drug litigation goes, the Zyprexa case has settled very quickly. We received our first client in July of 2004, with the first payments to the clients being made in October of 2006. Could this rush to settle be due to the overwhelming evidence that Zyprexa is truly linked to the development of diabetes? We think so!