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Takeda Announces $2.4 Billion Settlement in Actos Bladder Cancer Cases

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Takeda Announces $2.4B Settlement in Actos Cases

Takeda Announces $2.4B Settlement in Actos Cases

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.

The lawsuits allege that Takeda concealed the bladder cancer risk of the top-selling medication. In recent years, research has linked Actos to a higher risk of bladder cancer. In 2011, the Food and Drug Administration (FDA) said that taking Actos for more than one year could significantly increase the risk of bladder cancer. The Actos label was updated to address the risk. Two 2012 articles provide additional support for the link. In May 2012 the British Medical Journal published a study that revealed Actos users were twice as likely to develop bladder cancer after two years on the drug. In July 2012 an article in the Canadian Medical Association Journal reported that patients taking Actos were 22 percent more likely to get bladder cancer.

Last year, a Louisiana jury ordered Takeda and Eli Lilly, formerly a co-marketer of Actos, to pay a combined $9 billion in punitive damages after finding that Takeda had hidden the cancer risks. (The award was later reduced to $36.8 million, the Times reports.) A court filing in the Louisiana case indicates Actos sales in the United States have exceeded $24 billion since the drug went on the market in 1999. More than 100 million prescriptions have been written.

According to the Times, the settlement will become effective if 95 percent of the plaintiffs agree to it, in which case Takeda would pay $2.37 billion. If 97 percent of plaintiffs participate, Takeda will pay $2.4 billion. The amount individual plaintiffs receive will depend on their circumstances, including cumulative dosage of the drug, the extent of the injury and their smoking history.

National law firm Parker Waichman, which has represented plaintiffs in a number of Actos cases, says the deadline to sign up with the firm is 12:00 noon EDT on Friday, May 1, 2015. The settlement would be open to all claimants who (a) allege that they have bladder cancer; (b) first used Actos prior to December 1, 2011; and (c) either have a lawsuit currently pending or retained counsel to assert a claim within three days of the announcement of the settlement. disclaimer: This article: Takeda Announces $2.4 Billion Settlement in Actos Bladder Cancer Cases was posted on Thursday, April 30th, 2015 at 11:55 am at and is filed under Defective Drug Lawsuits.

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