Takeda Agrees to $2.4 Billion Actos Settlement

Posted on May 20, 2015 at 12:00pm by

Updating a blog post we brought you last month, Takeda Pharmaceuticals has agreed to a $2.4 billion settlement over the diabetes drug Actos and its cancer risks. Photo of pills

According to the New York Times, the drug manufacturer has agreed to pay thousands of patients and family members who filed lawsuits over the drug, claiming that it led to bladder cancer. At the end of April, Takeda announced the settlement, which it says will resolve most of the injury cases.

Additionally, Takeda announced that it would take a “$2.7 billion charge against earnings to cover the settlement and costs for defending the remaining cases,” according to the Times.

There are more than 9,000 lawsuits currently pending over bladder cancer claims. The settlement will need to be approved by various courts handling the claims and will only become effective if “95 percent of the plaintiffs agree to it,” the newspaper reported. It will be one of the largest drug injury settlements in U.S. history, if approved.

Keep in mind, the US Food and Drug Administration (FDA) is currently reviewing and studying Actos for bladder cancer risks.

Should I Join a Class Action Lawsuit for Drug Injuries?

If you or your loved one has experienced serious personal injuries due to a defective drug, speaking to an attorney might be in your best interest. As the settlement above shows, there are various ways you can hold a drug manufacturer liable for putting out a defective product. This includes mass tort litigation or individual lawsuits. Our attorneys can let you know how to move forward with a claim.

Keep following our blog or visit us on Facebook for more information about how our firm represents defective product injury victims.

Targan Pender & Strickland, P.C. – Atlantic City Accident Attorneys

Source: http://www.nytimes.com/2015/04/29/business/takeda-agrees-to-pay-2-4-billion-to-settle-suits-over-cancer-risk-of-actos.html?_r=0



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