Date post: | 02-Aug-2015 |
Category: |
Law |
Upload: | bryce-johnson |
View: | 82 times |
Download: | 1 times |
TAKEDA HAS JUST AGREEDTO PAY OUT $2.4 BILLION
TO SETTLE LAWSUITS RELATEDTO THE CARCINOGENIC EFFECTS
OF ACTOS
Takeda has settled with thousands ofpeople and their families who claimed thatthe company's Diabetes medication called
ACTOS caused bladder cancer.
The company stated that the hugemulti-billion dollar settlement
would resolve a majority of theproduct liability lawsuits related to Actos.
Currently there are around9,000 different bladder cancer claims
pending against TAKEDAbecause of their drug, Actos.
The lawyers who are representingthe plaintiffs in these cases stated that
Takeda knowingly concealed themedication's ability to cause bladder cancer.
Last year a jury in Louisiana orderedTakeda as well as Eli Lilly to pay out$9 billion in punitive damages after it
was determined that Takeda withheldthe cancer risks of its medication.
Takeda did not admit any wrongdoing,essentially stating that it has settled
to avoid further legal proceedingsagainst the company.
The settlement will become official if andwhen 95% of the plaintiffs agree to it,
which would mean that Takeda would berequired to pay out $2.37 billion.