London-based AstraZeneca PLC said Monday it has reached agreements to pay $198 million to settle a little more than half of the U.S. lawsuits that allege its antipsychotic drug Seroquel caused diabetes and other harm. AstraZeneca said the agreements cover roughly 17,500 claimants, out of the remaining 26,100 plaintiffs who have brought product liability lawsuits. Despite all the lawsuits, Seroquel is still AstraZeneca's second-biggest seller after its Nexium ulcer drug.
August 10, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
AstraZeneca PLC said Monday it has reached agreements to pay a modest $198 million to settle a little over half of the U.S. lawsuits that allege its antipsychotic drug Seroquel caused diabetes and other harm.
AstraZeneca said the agreements cover roughly 17,500 claimants, out of the remaining 26,100 plaintiffs who have brought product liability lawsuits. That works out to an average of just $11,314 per plaintiff. The company has already disposed of 4,725 Seroquel cases.
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