IS THE HOPE OF SAVING TYSABRI A REALISTIC ONE? Written by Newsinferno.com Staff Writers
The FDA has been informed by Biogen Idec Inc. that a fifth person has developed a rare brain disease known as progressive multifocal leukoencephalopathy (PML) after being treated with its multiple sclerosis drug Tysabri. Biogen and its development partner, Elan Corp. PLC of Ireland, had hoped to return drug to market despite three previously confirmed cases of PML (with two deaths) as well as a fourth unconfirmed case. Sales of drug were suspended on February 28 of this year.Only last week, Biogen was hinting at a strategy for bringing drug back to market that included testing all patients for virus that causes PML and stop treatment with Tysabi in time to allow patients to recover. Experts, however, are not sure at what point additional cases of PML may prove to be an insurmountable obstacle to that plan. Each time one of these cases is announced Elan’s stock tumbles in value.
| | Eli Lilly to pay $700 million to Zyprexa VictimsWritten by T.Going
Eli Lilly to pay $700 million to Zyprexa VictimsOn June 9th, 2005 Eli Lilly and Company announced that it has entered an agreement with plaintiffs’ attorneys involved in Zyprexa liability litigation to settle most of claims against company relating to their Zyprexa medication. "While we believe claims are without merit, we took this difficult step because we believe it is in best interest of company, patients who depend on this medication, and their doctors," said Sidney Taurel, chairman, president and chief executive officer of Eli Lilly and Company. The agreement states that Eli Lilly will establish a fund of $690 million for plaintiffs who agree to settle their claims. This settlement fund will be overlooked and distributed by claims administrators chosen by steering committee of plaintiffs. At this time number of claimants is projected at around 8,000 comprising about 75% of claims identified to Lilly.
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