Takeda has faced at least 9 trials since 2013 over claims it hid Actos’s cancer risks. The company has won 3 defense verdicts and other damage awards against the drugmaker have been thrown out or are on appeal. Still, 5 juries that have reviewed the evidence of Takeda’s handing of Actos have held the company liable for consumers’ injuries.
Bloomberg News is reporting that Takeda Pharmaceutical Co., Asia’s largest drugmaker, is offering a $2.2 billion settlement for the 8,000 Actos lawsuits filed in state and federal courts throughout the U.S. On an individual basis, the settlement amount figures to be $275,000 per lawsuit.
As the T&T blog has reported in the past, Actos sales peaked in March 2011 at $4.5 billion and accounted for 27% of Takeda’s revenue at the time. Actos has generated more than $16 billion in sales since its 1999 release, according to court filings. Takeda now faces generic competition over the drug from Ranbaxy Laboratories Ltd.
Stay turned to further Actos developments from the T&T blog.