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Verdicts and Settlements
Balkin & Eisbrouch and our affiliated law firms have obtained numerous verdicts and settlements on behalf of our clients. Here are just a few examples:
DEFECTIVE DRUGS
2006 - Indiana
Eli Lilly and Plaintiffs' Attorneys Balkin & Eisbrouch, LLC, Enter Into a $700 Million Settlement of the Majority of Zyprexa Product Liability Litigation
On Thursday, June 9, 2005, Eli Lilly and Plaintiffs' Attorneys entered into an agreement in principle to settle the majority of Zyprexa product liability litigation in Indianapolis, Indiana. The agreement includes those claimants who asserted that while using Zyprexa, they developed diabetes-related conditions.
Eli Lilly and Company announced that it has entered into an agreement in principle with plaintiffs' attorneys involved in Zyprexa liability litigation to settle a majority of the claims against Lilly relating to the medication. Sydney Taurel, chairman, president and CEO of Eli Lilly & Company said "While we believe the claims are without merit, we took this difficult step because we believe it is in the best interest of the company, the patients who depend on this medication, and their doctors. We wanted to reduce significant uncertainties involved in litigating such complex cases. Our decision to resolve these claims does not change the fact that Zyprexa has and will continue to improve the lives of millions of patients around the world who are suffering from schizophrenia and bipolar disorder. This settlement will enable Lilly to focus first and foremost on addressing unmet medical needs through research, educational programs and partnerships with doctors and patients."
This settlement, when finalized, will resolve the majority of Zyprexa claims pending in the United States. . The agreement will also result in the dismissal of claims against physicians and other health care professionals named as co-defendants in any cases covered by this settlement. Lilly has stated it will continue its vigorous defense of Zyprexa in the remaining cases.
Other claims that have been brought against Lilly at the federal and state levels, including class actions suits are not included in this settlement. Further, this settlement does not resolve all pending cases. It is possible that the company could receive a substantial number of new claims in the future from individuals not subject to this settlement.
A fund, not to exceed $690 million will be established by Lilly, for those plaintiffs who have agreed to settle their claims. The number of claimants it estimated at about 8,000. The distribution of these claims will be conducted by claims administrators that have been appointed by the plaintiffs' steering committee. This committee will also oversee the distribution.
The remaining claimants not covered by the $690 million settlement are those who are represented by attorneys who are not participating in the agreement in principle.
Lilly advised investors that it anticipates taking at least a $700 million pretax charge in the second quarter of 2005 to cover this settlement, as well as other product liability claims not covered by the settlement. This second quarter charge will be excluded from Lilly's adjusted second-quarter earnings.
2001 - Mississippi $7,000,000 Awarded to Fen-Phen Client
Our client, a housewife, took the combination diet drug Fen-Phen in an attempt to lose weight that she had battled her entire life. Shortly after taking the drug for a 3-month period, the manufacturer, American Home Products, recalled the product from the marketplace due to cardiac complications. Our client developed Primary Pulmonary Hypertension and was awarded $7 million dollars by a jury for her tragic pain and suffering.
2003- Nationwide Baycol
We are presently representing over 1,500 clients who have taken the drug Baycol for elevated cholesterol levels. The drug was removed from the market in 2002 due to complications including Rhabdomyolysis, a condition that causes muscle damaging and weakness. We were one of the first law firms to settle Baycol cases nationwide and have presently received over $5 million dollars for a small number of clients. Our settlement negotiations with the manufacturers are continuing.
2003-2004 Nationwide
We are presently involved with litigation and settlement discussions regarding the drugs: Rezulin, Sulzer Hips, PPA, Zyprexa and others.
CEREBRAL PALSY
2001 - Georgia $5,500,000 Settlement for Birth Injury
A child was born with permanent brain damage due to the medical malpractice of the doctor and hospital staff causing a sever lack of oxygen during labor. We were able to settle our client's case prior to trial for $5.5 million.
MEDICAL MALPRACTICE
2001 - Illinois $6,750,000 Brain Injury - 40 Year Old Female
Our client, a 40-year-old woman, initially suffered massive burns from a water heater explosion. During surgery the hospital failed to properly monitor the oxygen levels in her blood resulting in permanent massive brain damage. We were able to negotiate a $6.75 million settlement prior to trial.
Our client was admitted to the hospital for a routine back surgery. In recovery, the hospital failed to properly monitor his oxygen levels, which resulted in permanent massive brain damage. We were able to negotiate a settlement of $6 million while interviewing prospective jurors during the early stages of trial.
AUTOMOBILE NEGLIGENCE
2003 - New Jersey $2,500,000 Facial Burns - 30 Year Old Male
Our client, a 30-year-old male, was driving his pick-up truck when rear-ended by a municipal bus that skidded on a wet surface through an intersection. Several passengers on the bus testified the driver had been operating the bus recklessly and had accelerated through prior intersections before colliding into the rear of our client's vehicle. The impact being so severe it caused a horrific explosion severely burning our client's face and head. He was caused to wear tissue expanders for several four-month intervals in order to decrease the scarring to his scalp. We were able to negotiate a $2.5 million settlement with the municipality only six months after filing suit.
1998 - Wisconsin $2,900,000 Motorcycle Accident - Leg Amputation
Our client, a 42-year-old woman, was a passenger on a motorcycle when a commercial vehicle made an illegal left turn into the motorcycle causing our client to immediately lose the lower portion of her left leg. The remainder of the leg was amputated causing severe emotional and physical damage. We were able to settle prior to trial for $2.9 million.
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