In one of the largest product-liability settlements in the pharmaceutical industry, Takeda Pharmaceuticals has agreed to pay $2.4 billion to settle thousands of lawsuits claiming Takeda’s diabetes drug Actos caused bladder cancer.
About 9,000 bladder cancer claims are pending against Takeda, the New York Times reports. Takeda said the settlement would resolve most of the lawsuits involving Actos (pioglitazone). Takeda will take a $2.7 billion charge against earnings to cover the settlement and litigation costs for the remaining cases. More than 3,500 lawsuits brought over Actos have been consolidated before U.S. District Judge Rebecca Doherty in Lafayette, Louisiana, for pretrial discovery, court dockets indicate. Another 4,500 cases have been filed in state courts in Illinois, West Virginia, California, and Pennsylvania. More Takeda Announces $2.4 Billion Settlement in Actos Bladder Cancer Cases