Pharmaceutical giant Eli Lilly & Co. has agreed to create four new senior-level ethics and compliance positions as part of a deal to settle various shareholder lawsuits stemming from the illegal marketing and promotion of a handful of its drugs.
The proposed settlement, which still must be approved by a federal judge, addresses off-label promotion of Lilly’s antipsychotic drug Zyprexa. The Food and Drug Administration approved Zyprexa in the 1990s to treat schizophrenia and bipolar disorder, but last year Eli Lilly pleaded guilty to charges that it marketed the drug for several years for various unapproved uses, including sleep disorders, aggression, dementia and depression.
