According to Bloomberg, Takeda Pharmaceuticals is offering to pay more than $2.2 billion to settle injury claims relating to the diabetes drug Actos.
If courts and plaintiff attorneys accept the settlement, it would be one of the largest in U.S. history involving pharmaceutical drugs or medical devices. The settlement would attempt to end more than 8,000 lawsuits that have been filed in state and federal courts over the last three years.
In most cases, plaintiffs say that Actos caused them to develop bladder cancer. In 2010, the U.S. Food and Drug Administration began reviewing the drug, placing a black box warning on the product about increased bladder cancer risks. However, this was done well after many people allegedly became ill.
The settlement would reportedly amount to about $275,000 per plaintiff. Some legal experts said they are concerned that the deal may not be enough. They say that Takeda has a very high degree of liability in many of the cases they have reviewed. In fact, last year, a Louisiana jury awarded a patient $9 billion in damages (later reduced to $36.8 million) over bladder cancer claims.
As the ongoing Actos litigation goes to show, pharmaceutical companies have a duty make sure they are manufacturing products that are not harmful. Failures in the safety measures or studies can result in the sale of defective medication to the public and significant harm to consumers.
If a defective drug has injured you, an attorney can investigate your claim and determine its validity. Our lawyers are experienced with pursuing compensation for injuries caused by contaminated or defective drugs.
Koonz, McKenney, Johnson, DePaolis & Lightfoot, L.L.P.