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AstraZeneca Will Keep Seroquel Settlement Terms Confidential

AstraZeneca Plc, which settled almost 4,000 product-liability cases this month involving its antipsychotic drug Seroquel through mediation, said it will keep terms of the agreements confidential.

The company, said it was defending more than 10,000 cases involving 22,500 plaintiff groups. Some of the cases were previously dismissed because plaintiffs lacked sufficient evidence to support allegations that Seroquel causes diabetes.

The company, said in the July 29 filing that by March, it had spent about $688 million defending Seroquel-related cases.

AstraZeneca agreed earlier to pay $2 million to settle more than 200 Seroquel cases, averaging about $10,000 each. Those settlements were part of the same federal-court-ordered mediation.

The consolidated Seroquel case is In re Seroquel Products Litigation, 06-MD-01769, U.S. District Court, Middle District of Florida (Orlando).

Read the full Bloomberg story here.

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