This past April, in one of the most significant Big Pharma agreements in U.S. history, Takeda Pharmaceuticals Co. agreed to a settlement of $2.37 billion for the negative side effects and inadequate marketing of their drug, Actos.
Actos is an oral medication used to treat and control Type 2 diabetes. In June of 2011, however, the Food and Drug Administration (FDA) issued a statement that patients who use Actos for longer than a year may be more prone to developing bladder cancer. According to plaintiffs involved in the class action lawsuit, Takeda failed to produce adequate warnings about the increased cancer risk.
Even in light of the multi-billion dollar settlement, Takeda persists in its standpoint that the benefits of Actos far outweigh the negative side effects. Additionally, the drug maker feels that it did nothing wrong regarding the marketing of Actos.
Thousands of Injured Plaintiffs to Benefit from Settlement
Over 10,000 lawsuits were filed against Takeda due to health complications caused by Actos usage. Many will collect damages, thanks to the $2.37 billion settlement. The amount of money that claimants can receive is based on a “Points Matrix.” The more criteria a claimant fulfills, the more money they are eligible to obtain. Criteria includes the extent of the injury, age, and the length of time a person took Actos.
Although one trial resulted in Takeda getting hit with a $9 billion punitive damages verdict, experts say that the odds are good that this verdict will be reduced significantly. A 2003 Supreme Court ruling holds that excessive punitive damage awards are unconstitutional and Takeda quickly shared its plans to appeal the verdict.
Regardless of punitive damages, however, compensatory damages remain available for injured plaintiffs. One man who developed bladder cancer after taking Actos for five years was awarded a $1.5 million settlement. Such compensation awards can be used by plaintiffs to cover the cost of medical bills, ongoing care, and loss of consortium.
Injured as a Result of Actos?
If you were injured as a result of taking Actos, it is imperative that you act quickly to retain legal representation. Takeda is a powerful corporation that will not hesitate to shirk responsibility for its negligence. We at The Webster Law Firm can defend your rights throughout the entirety of your case and fight for the favorable outcome you need.
The sooner you call, the sooner you can begin resolving this unjustified pain you have been subjected to. Contact us today to put an experienced Houston pharmaceutical litigation attorney on your side.