Earlier this year, after a protracted legal battle Takeda Pharmaceutical Company agreed on a settlement to resolve U.S. lawsuits accusing the company of hiding its Actos diabetes medicine’s cancer risks as long as a participation threshold of 95% of all claimants was achieved.
That agreed threshold has been reached, and a settlement fund to resolve Actos lawsuits has been established. Takeda has announced that it has signed up 96% of claimants and settled seven of nine cases that have already gone to trial.
Takeda also agreed to increase the original $2.37 billion settlement by an additional $100 million so long as 97% of claims actually meet the criteria for the settlement.
Under the proposed terms of this accord a payment of more than $296,000 per case would be offered to those who sign up for the settlement. This payment may be adjusted depending on a patient’s age, smoking history and exposure to toxins. It is imperative that anybody who has suffered as a result of taking Actos or lost a loved one due to Actos-related bladder cancer act promptly.
It is also worth mentioning that Actos is not the only diabetes medication in the news. Earlier this year, the FDA warned that the diabetes drug Invokana has been potentially linked to ketoacidosis, a potentially serious condition that could require emergency care.
If you or someone you know have been harmed by taking Actos diabetes medicine, contact our law firm today. We represent people across the US in consumer justice cases.