TAKEDA AGREESTO PAY $2.4 BILLIONTO SETTLE SUITS OVERCANCER RISK OF ACTOS

oklalegal.com

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.

If 97% of the plaintiffs agree,Takeda will have to pay out $2.4 billion.