Takeda Pharmaceutical Co. has agreed to pay up to $2.4 billion to resolve bladder cancer claims tied to its Type 2 diabetes drug Actos. The settlement will compensate an estimated 10,000 claimants who were diagnosed with bladder cancer after ingesting Actos and who meet the other eligibility requirements of the settlement program. The settlement requires 95 percent of the eligible claimants to enroll to become effective. If 95 percent enroll, Takeda will pay $2.37 billion into the settlement fund; if 97 percent enroll, Takeda will increase the settlement fund to $2.4 billion.
The settlement program is designed to fairly compensate claimants based upon the extent of their injuries and their cumulative exposure to Actos, taking into account other risk factors that could have caused or contributed to their injuries. To date, only nine Actos cases have been tried in court. Without the settlement program, it could take many years for the thousands of filed cases to work their way through the legal system and be set for trial. The settlement program will provide the means for claimants to be compensated in the immediate future.
The settlement follows a record $9 billion jury verdict in favor of the Plaintiffs a year ago in the multidistrict litigation (MDL) bellwether case. That jury verdict was found to be unconstitutional and reduced by Judge Rebecca F. Doherty, who presides over the consolidated Actos litigation in the United States District Court for the Western District of Louisiana. Takeda’s appeal of that case to the 5th Circuit has been dismissed without prejudice in light of the settlement.
Andy Birchfield, one of the signatories to the settlement agreement, believes that the settlement is a tremendous result for our firm’s clients. If you have any questions about the settlement program or any aspect of this litigation, contact Roger Smith, a lawyer in the firm’s Mass Torts Section, who is overseeing the administration of the Actos settlement program on behalf of our clients. Roger can be reached at 800-898-2034 or by email at Roger.Smith@beasleyallen.com.
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