September 16, 2015 — Takeda Pharmaceuticals has enough participants to ink a $2.3 billion settlement for about 10,000 people injured by bladder cancer after taking Actos, a type-2 diabetes drug.
With 96% participation, Takeda can move forward with the settlement. To sweeten the deal, Takeda will float another $100 million if 97% of claimants accept. Only 75% had signed up in early August, leading some experts to question whether the deal would survive.
As it stands now, each claimant is eligible for about $296,000. The payout could be reduced for risk-factors like smoking and toxin exposure.
The settlement should resolve most of the 4,500 lawsuits in California, Pennsylvania, Illinois, and West Virginia. Another 4,800 lawsuits are also pending in a centralized federal litigation in Louisiana, according to an update (PDF) from the Judicial Panel on Multi-district Litigation (JPML).
Takeda defends the safety profile of Actos, backed up by a recently-completed 10-year study that found no increased risk of bladder cancer associated with Actos. However, the study did find higher rates of pancreatic cancer and prostate cancer.
However, 5-year results from the same study found a 41% increased risk of bladder cancer associated with using high-dose Actos for at least a year. Those results led the FDA to issue a Safety Warning. After lawsuits were filed, evidence emerged that Takeda downplayed evidence linking Actos and cancer.
Do I have an Actos Lawsuit?
The Schmidt Firm, PLLC is currently accepting Actos induced injury cases in all 50 states. If you or somebody you know has been diagnosed with bladder cancer, you should contact our lawyers immediately for a free case consultation. Please use the form below to contact our Defective Drug Litigation Group or call toll free 24 hours a day at (866) 920-0753.
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