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Eli Lilly and Company
Lilly to Take Charge to Earnings Related to Pending Federal and State Investigations of Past Practices
November 8th, 2008
Eli Lilly and Company (NYSE:LLY) announced that it is in advanced discussions to resolve the ongoing investigations led by the U.S. Attorney's Office for the Eastern District of Pennsylvania (EDPA) related to past U.S. marketing and promotional practices for its antipsychotic medication Zyprexa(R) (olanzapine). As a result, the company will record in the third quarter of 2008 a charge of $1.415 billion, or $1.29 per share. The Government's investigation is related to past marketing and promotional practices for Zyprexa in the United States. Lilly has now incorporated an enhanced compliance program that is designed to ensure that the company's global marketing and...
Source: Law & Health Weekly (2008-11-08)
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