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Japan's Takeda Offers $2.2 Billion to Settle US Lawsuits Linked to Diabetes Drug Actos

by Dr. Trupti Shirole on April 5, 2015 at 6:38 PM
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Japan's Takeda Offers $2.2 Billion to Settle US Lawsuits Linked to Diabetes Drug Actos

Japan's top drugmaker Takeda Pharmaceutical has faced at least nine trials since 2013 over claims that it tried to cover up its diabetes drug Actos' cancer risks. The company has offered $2.2 billion to settle more than 8,000 lawsuits linked to Actos, in what would be one of the biggest US payouts over patient lawsuits, a report said Wednesday. A Tokyo-based spokesman for Takeda Pharmaceutical declined to discuss the lawsuits or comment on Wednesday's report.

The report said, "The proposal would amount to a payment of about $275,000 for each case. A final deal has not yet been reached."

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Former users accused Takeda executives of ignoring or playing down worries about the drug's cancer links before it went on sale in the US, and then misleading US health regulators about the risks.

Last year a federal jury in Louisiana ordered Takeda and US-based Eli Lilly & Co. to pay a combined $9.0 billion in damages to a patient who accused Actos had caused his bladder cancer. This payout was later cut to $36.8 million. Eli Lilly was Takeda's US marketing and sales partner until 2006.

Source: Medindia
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