On Wednesday, April 29, Takeda Pharmaceutical Co. agreed to pay $2.7 billion to settle lawsuits brought in the United States by plaintiffs who claim that the diabetes drug Actos caused their bladder cancer.
According to the San Diego Union Tribune, Takeda agreed put the money aside for plaintiffs if the vast majority of claimants—95% of them—will agree to the settlement. The settlement, combined with legal charges to total $2.7 billion, will be charged against the company’s fourth quarter earnings for 2014, making this the first year Takeda has shown financial losses since 1949.
Under this settlement, plaintiffs would each receive roughly $296,000 from the company. Individual settlements will differ according to the age of the plaintiff, medical history, and exposure to toxins.
In Actos lawsuits, plaintiffs have claimed that Takeda was aware of the risk between their popular diabetes drug and bladder cancer, but that they failed to warn of this potentially fatal side effect. Erik Gordon, a law professor quoted by the San Diego Union Tribune, told reporters that the settlement was “a good deal for Takeda”, because “Takeda’s mishandling of this drug is worthy of large punitive damage awards.”
Last year, a federal jury ordered Takeda and Eli Lilly, its partner company in the United States, to pay $9 billion to a man who claimed Actos caused his bladder cancer. Bloomberg disclosed that this was the seventh-largest lawsuit award in United States legal history, was later reduced to $36.8 million by a judge.
If you or someone you love has been diagnosed with bladder cancer after using Actos to control diabetes, you could be entitled to compensation for medical bills and other damages. For more information, please contact an experienced personal injury lawyer.
