October 7th, 2015|
Actos® is a drug by Takeda Pharmaceuticals, Inc. used to effectively treat diabetes. Unfortunately, researchers have linked the use of Actos with the development of bladder cancer.
In April, Takeda offered $2.3 billion to settle many of the Actos bladder cancer lawsuits in the wake findings showing a link between the drug and the disease. Now, the settlement is moving forward.
FiercePharma explains that as many as 96 percent of plaintiffs who filed Actos bladder cancer lawsuits agreed to the terms of the settlement after Takeda added another $100,000 to the fund used to compensate the victims.
If the settlement becomes finalized, it will lay to rest seven of the nine Actos bladder cancer lawsuits Takeda is currently facing. A statement from executives at Takeda stated the company hopes the settlement will allow all parties involved to avoid “the uncertainties of complex litigation.”
Despite the settlement, Actos remains on the market and Takeda says they will continue to back the drug in the future.
At Fleschner, Stark, Tanoos & Newlin, we believe in holding drugmakers accountable for the safety of the products they release onto the American market. That’s why our drug injury lawyers are hopeful this settlement can help those who developed bladder cancer as a result of taking Actos get back on their feet.
April 29th, 2015|
Actos® is a medication that has been used to treat diabetes in thousands of Americans. Unfortunately, studies have shown the drug is linked to an increased risk of the patient developing bladder cancer.
In 2011, the U.S. Food and Drug Administration required the company that manufactures the drug, Takeda Pharmaceuticals, to update the label of the product to include a warning to patients about the increased Actos® bladder cancer risk; however, it was already too late for many users who had already developed the disease.
Many of the patients who developed cancer as a result of using Actos® filed lawsuits against Takeda, claiming the company had kept the risks associated with the drug hidden from consumers. Several of the cases went to trial with mixed results. Just yesterday though, it was announced that Takeda Pharmaceuticals is offering to settle a majority of the roughly 9,000 pending lawsuits for a total of $2.4 billion.
The New York Times released an article stating Takeda was not found liable as part of the settlement and admitted no wrongdoing.
The settlement will only be finalized if 95 percent of the victims agree to its terms.
At the law firm of Fleschner, Stark, Tanoos & Newlin, we’ve seen the struggles the victims of Actos® bladder cancer have faced in their journey to justice. That’s why our Terre Haute personal injury lawyers hope the settlement brings a sense of closure to each of the victims who have suffered because of taking this particular drug.