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Diabetes Drug Manufacturer Offers $2.2 Billion to Settle Thousands of Lawsuits

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Diabetes Drug Manufacturer Offers $2.2B to Settle

Diabetes Drug Manufacturer Offers $2.2B to Settle


The maker of a top diabetes drug that is linked to cancer and other serious health problems has offered to pay more than $2 billion to lay 8,000 lawsuits to rest.

Takeda Pharmaceutical Co., the maker of the drug Actos, has said it will pay $2.2 billion to settle 8,000 lawsuits filed in federal and state courts on behalf of patients who allege that the company hid cancer risks associated with the diabetes medication, court records show. If the offer is accepted, each plaintiff would receive approximately $275,000.

Court dockets show that there are currently 3,500 lawsuits consolidated before U.S. District Judge Rebecca Doherty in Lafayette, Louisiana, for pretrial discovery. About 4,500 additional cases have been filed in state courts in Illinois, West Virginia, California and Pennsylvania, according to court records.

Takeda has been slammed with unfavorable compensatory verdicts five times thus far. A Philadelphia jury recently ordered Takeda to pay $2 million in damages to a plaintiff who alleged that Actos caused her bladder cancer. The jury in that case found that the drug maker neglected to warn about the risks associated with the diabetes drug and that Actos was a contributing factor to the plaintiff’s bladder cancer.

A federal jury in Louisiana hit Takeda and Eli Lilly & Co. with a $9 billion punitive damages verdict in April 2014. It was the first Actos case to go to trial, and the seventh-largest punitive damages award in United States history. The jury found that the drug manufacturer was responsible for $6 billion of the punitive verdict, while Lilly was responsible for $3 billion. Lilly marketed Actos for Takeda, according to Drugwatch.

Jerrold S. Parker, founding partner of Parker Waichman LLP, has served on the Plaintiff’s Steering Committee throughout the litigation.

breakinglawsuitnews.com disclaimer: This article: Diabetes Drug Manufacturer Offers $2.2 Billion to Settle Thousands of Lawsuits was posted on Monday, April 6th, 2015 at 4:04 pm at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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