Source: Drug makers to offer billion-dollar Actos settlement

Following one of the largest court settlements in U.S. history, on April 28, 2015, drug maker Takeda Pharmaceutical Co. have offered $2.4 billion this week to resolve claims filed by those who have suffered side-effects after taking the diabetes medicine Actos, an online news agency reported. The settlement would resolve the majority of claims, though the company continues to refuse liability in the lawsuits stemming from allegations that their product causes bladder cancer. Final settlements for individuals will be calculated based upon age, smoking history and exposure to toxins Bloomberg News reports.

Bloomberg Business’s Jef Feeley reported that, according to three unnamed sources, the company plans to settle the more than 8,000 cases filed in state and federal court. The multi-billion dollar settlement (offering an average of roughly $275,000 to each claimant) would make it one of the largest payouts for claims filed against drugs or medical equipment in U.S. history.

If the company confirms the speculation, the payout offer would be the first in a three-year legal battle.

It comes after a Pennsylvania jury awarded a teacher $3.5 million in compensatory and punitive damages for a complaint he filed against Takeda Pharmaceuticals. According to AboutLawsuits.com’s Irvin Jackson, the jury handed up their decision after two days of deliberations, and found that the company failed to adequately warn teacher John Kristufek about the risk of bladder cancer from Actos.

According to the article, Kristufek’s case is just one of many similar claims Takeda Pharmaceuticals had fought and lost in court since the FDA announced a possible link between the drug Actos and bladder cancer in 2010. One of the most note-worthy trials happened in 2014, when Takeda and co-marketer Eli Lilly were forced to dole out $9 billion in punitive damages (the punitive damages were later reduced to $37 million).

Jackson reported that Kristufek was awarded $318,000 for medical expenses and $2 million for pain and suffering. As a means of punishing Takeda Pharmaceuticals, “who acted with reckless indifference to Kristufek’s health,” the jury awarded Kristufek an additional $1,334,636.

Apparently the company still faces around 4,000 complaints nationwide; plaintiffs who took Actos and were later diagnosed with bladder cancer.

If you or a loved one have taken the drug Actos and were diagnosed with bladder cancer, you may be entitled to significant compensation for medical bills and other damages. For more information and a free evaluation of your claim, contact Arentz Law Group, P.C. by filling out the form below, or by calling 1-800-305-6000.

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