Actos’ manufacturer, Takeda Pharmaceuticals, recently agreed to pay $2.37 billion to resolve the majority of bladder cancer lawsuits. Our team of Actos attorneys is pleased to announce this potential settlement to our Actos bladder cancer clients.
Takeda Pharmaceuticals is Asia’s largest drugmaker and will continue to sell Actos in the U.S., Japan and other countries after litigation resolves. Several countries, including France, Germany and India, have banned Actos for its extreme cancer risk.
Actos was introduced in 1999 to treat type 2 diabetes and became the world’s best-selling diabetes drug in 2007. Even before Actos was approved, animal studies showed high rates of bladder tumor development. One study found that those taking Actos had an 83% increased risk of developing bladder cancer. Others have found similar egregious risks.
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Takeda is facing an estimated 10,000 bladder cancer lawsuits. The terms of the settlement would offer an average payout of more than $296,000 to each plaintiff. This is merely an average, however, as each plaintiffs’ unique circumstances will be taken into account, including history of toxic exposure, smoking, and age.
This average payout is negligible considering the recent verdicts against Takeda for Actos victims. Just a few weeks prior to this settlement announcement, a jury hit Takeda with a $3.6 million verdict for a man who developed bladder cancer from Actos. The jury concluded Takeda acted with reckless indifference for the health of the public.
Another Actos award is actually the seventh-largest in U.S. history. In April 2014 a federal jury announced Takeda (and Eli Lilly, the drug’s American marketer) was liable for $9 billion in damages to a man who developed bladder cancer. The award was later reduced to $36.8 million, but the message remained the same.
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There are several other examples of multi-million dollar jury awards to plaintiffs victimized by Takeda. Undoubtedly, the company calculated the risk of litigating all 10,000 Actos suits and decided to settle instead, removing the threat of more jury’s finding Takeda liable for massive awards.
Actos sales peaked in 2011 at $4.5 billion. Since its release, Actos has generated more than $16 billion in sales. Considering these numbers, the $2.4 billion settlement is likely to be opposed by some Actos victims. Former Actos users claim Takeda ignored or concealed concerns about the drug’s cancer risks before introducing it to market, misleading doctors, patients, and U.S. regulators.
This $2.37 billion settlement is among the largest targeting a drug’s side effects. The only larger settlement that comes to mind was the 2007 agreement between Merck and about 30,000 plaintiffs who were injured by the painkiller Vioxx. Merck paid $4.85 billion in that accord.
Type 2 Diabetes Cash Cow for Big Pharma
The type 2 diabetes drug industry is massive and ever-expanding. Pharmaceutical companies have convinced the public that they need drugs to control their conditions and that drugs alone will treat diabetes. Contrary to what Big Pharma is telling you, drugs cannot reduce your risk of complications from diabetes; drugs merely mask the symptoms short-term.
The longer you are on any drug, the more likely you are to experience serious side effects. Diabetes drugs like Avandia,Januvia, Janumet, Byetta and Victoza are now clearly linked to pancreatic cancer, heart attacks, and premature death.
More and more, the importance of lifestyle factors for type 2 diabetes is dominating research and medical guidelines. Too many people do not realize how effective lifestyle changes can be in treating diseases like type 2 diabetes, high cholesterol and heart disease. Type 2 diabetes is virtually entirely avoidable and it is treatable without drugs.
The Actos lawyers at Pintas & Mullins Law Firm are currently investigating cases of cancer development and serious injury from several type 2 diabetes medications. If you would like more information, please visit our website or call our offices for a free legal consultation.