It seems as if it’s an unlucky draw for AstraZeneca. As of February 2011, this drug company has reportedly agreed to pay another $150 million to settle its lawsuits as a result of diabetes occurring while taking the drug Seroquel. This brings the total amount for Seroquel settlements to $350 million.
It is reported that sources at AstraZeneca have told Bloomberg News that they’ve settled about 6,000 more lawsuits that implicate them of inadequate warnings about the risk of diabetes and other side effects of the drug Seroquel. It is estimated that the average payout per plaintiff will be about $25,000, according to Bloomberg News sources.
In August of 2010, it had been reported that AstraZeneca has agreed to pay $200 million to settle 17,500 lawsuits.
According to a regulatory company filing, the latest AstraZeneca settlement has come from cases that were a part of the Seroquel multidistrict litigation, which is primarily centralized in the US District Court for the Middle District of Florida, presided by US District Judge Anne Conway.
Last year, she had issued an order to remand a multitude of Seroquel cases back to the courts where they were filed for individual trials. In conjunction with the progress that AstraZeneca and many plaintiffs were making to settle the Seroquel lawsuits, she had reversed that order.
Seroquel is an atypical-antipsychotic drug that’s been a top seller for the drug-maker AstraZeneca, generating about $5.7 billion dollars worldwide every year. It was originally approved by the FDA in 1997 for the treatment of schizophrenia disorder however has also been prescribed for off-label uses that aren’t approved as being safe and effective for conditions such as anxiety, obsessive dementia, autism and compulsive disorders.
There are wide-ranging amount of side effects associated with Seroquel, with many amputations and even deaths being reported as hazardous adverse side effects.
If you or a beloved one has suffered from the adverse side effects of the drug Seroquel, please do not hesitate to contact someone who can help you.0."/>