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AstraZeneca Resolves Most Seroquel Suits for $647 Million

AstraZeneca Plc has settled almost all lawsuits that claimed its antipsychotic drug Seroquel causes diabetes in some users for a total of $647 million.

AstraZeneca, the U.K.’s second-biggest drugmaker, has set aside the $647 million to resolve 28,461 suits alleging it knew Seroquel could cause diabetes in some users, the company said in its second-quarter earnings report. The reserve includes money that may be used to settle about 250 unresolved cases, company officials said in the report.