According to the UK Press Association, AstraZeneca set aside $203 million to resolve approximately 18,000 claims in the US that Seroquel, a schizophrenia treatment, caused diabetes and other serious Seroquel side effects. A further $270 million was reportedly put aside for other claims and to cover AstraZeneca's legal costs.In August 2010, AstraZeneca said it settled approximately 17,500 lawsuits alleging Seroquel caused diabetes and other injuries for approximately $200 million. The lawsuits alleged the drug maker failed to adequately warn patients about the drugs' risks.
Further eroding AstraZeneca's profits are the effects of generic competition.
According to the San Francisco Chronicle (10/28/10), AstraZeneca reported net income of $1.55 billion in the third quarter, compared with $2.12 billion in the same quarter in 2009. The Wall Street Journal (08/10/10) reports worldwide sales of Seroquel reached almost $5 billion in 2009.
Meanwhile, an advocacy group called Taxpayers Against Fraud Education Fund alleges that the pharmaceutical industry is the number one source of Department of Justice (DOJ) fraud-related settlements. Number one on the list of pharmaceutical companies to settle with the DOJ was Allergan Inc., which paid $600 million to settle allegations of illegal marketing of Botox.
Second on the list was AstraZeneca, which paid approximately $520 million for the alleged illegal marketing of Seroquel.
READ MORE SEROQUEL LEGAL NEWS
A study published online in BMJ (09/22/10) suggests that Seroquel is linked to an increased risk of blood clots. According to the study, of the patients included who were diagnosed with venous thromboembolism (VTE), 8.3 percent had received an antipsychotic medication in the two years prior to diagnosis, compared with 5.3 percent of those not diagnosed with VTE. The highest risk of VTE was found in patients who took quetiapine (known by the brand name Seroquel).
Exactly why antipsychotic medications were associated with an increased risk of venous thromboembolism is not known.
READER COMMENTS
Allison Biszantz (aka Allison Strong, writer and disc jockey)
on
Part 1: youtube.com/watch?v=nCOR_YVo-ks
Part 2: youtube.com/watch?v=TqfEX8jl-Zs
Blog:
Blog: ibpf.org/blog/move-over-movement-disorder
I'm prediabetic and have Tardive Dyskinesia.
Hi. I've been on atypical antipsychotics since 2000, when I was put on Seroquel at high doses. When the metabolic side effects (huge weight gain, an eating disorder program threw me out for gaining four pounds over a weekend when I traveled to a home with lots of ice cream and goodies) Became to difficult and shameful, I was switched to Geodon. I'd been on top dose of Seroquel for seven years. After a year of Geodon and seven years of Seroquel I came down with Tardive Dyskinesia, a stubborn case that wasn't easily treated with Cogentin. For three years I could not sign my name. People regarded me with fear in their eyes. I went from doctor to doctor, encountering sexism, judgement for the benzos I took that were helping some, labeling, (a Cleveland Clinic neurologist said it was psychosomatic and snapped my file shut and left the office in three minutes) and Ignorance. You have to realize there are many different movement disorders and not all neurologists wish to deal with the mentally ill. I wrote a blog in the ibpf.org website called "Move Over, Movement Disorder." In addition, see my Tardive Vlogs
Tardive Vlogs Utube
Part 1: youtube.com/watch?v=nCOR_YVo-ks
Part 2: youtube.com/watch?v=TqfEX8jl-Zs
According to NAMI's latest statistics, 40-60 percent of those on atypical antipsychotics for over a decade will get TardiveDyskinesa. But that's not all. I now am prediabetic. I lift weights, I do cardio daily. I am thin and muscular. I am on Metformin. I'm doing a research study with a personal trainer/holistic healer from Uruguay to see what holistic approaches, such as acupuncture, herbs to silence the cries for sugar and other approaches will slow down, delay or prevent me from progressing to full blown diabetes. Stay tuned.
nicholas harbert
on