AstraZeneca pays out $198m over Seroquel

9th Aug 2010 07:09

Drug giant AstraZeneca said it had agreed to pay a total of $198m (£124m) in compensation to about 17,500 claimants in the US in relation to its bipolar disorder treatment Seroquel.The terms of the agreements, which came after court mediation, are confidential, Astra said. Seroquel has been linked to an increased risk of diabetes. The payments will not be reflected in 2010 earnings and guidance for profits in the year remains unchanged at $6.35 to $6.65.'As of 29 June, approximately 2,900 additional cases have been dismissed by order or agreement and approximately 1,825 of those cases have been dismissed with prejudice,' the company said. 'The only jury trial to date resulted in a defence verdict in favour of AstraZeneca.'