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Takeda Offers $2.4 Billion Settlement in Actos Litigation

Takeda Offers $2.4 Billion Settlement in Actos Litigation

April 29, 2015 — Takeda Pharmaceuticals Co. has offered to settle the “vast majority” of lawsuits involving Actos for $2.37 billion, according to Bloomberg.

If 95% of claimants opt-in to the settlement, each would receive a $296,000 payout that could be reduced depending on factors like age, smoking history, and toxin exposure.

The $2.4 billion settlement is dwarfed by the eye-popping $9 billion verdict handed down by a federal jury in Louisiana last year. It was the seventh-largest jury verdict in U.S. history, but later slashed to $37 million under state laws capping punitive damages.

Just before that case went to trial, evidence emerged that Takeda had destroyed massive amounts of documents on 46 current and former employees involved in the development and marketing of Actos. The federal judge overseeing the litigation told the jury they were allowed to infer that those documents contained critical evidence.

Takeda is still facing about 4,300 lawsuits in a federal court in Louisiana, plus individual lawsuits in state courts in Illinois, West Virginia, California, and Pennsylvania, according to court documents. Out of nine lawsuits that have gone to trial, Takeda has lost five.

The proposed settlement is one of the largest in U.S. history against a pharmaceutical company accused of failing to warn users about a known side effect. Four years ago, the FDA issued a Safety Communication to warn that Actos could boost a user’s risk of bladder cancer by 40% after 12 months.

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