As reported by Bloomberg, Takeda Pharmaceutical’s proposed $2.37 billion Actos settlement may be in danger because not enough plaintiffs are signing on. The multibillion-dollar accord was reached back in April, when Takeda agreed to use the funds to settle the bulk of its 8,000 pending Actos lawsuits.
Actos is a best-selling hypoglycemic drug approved for treatment of type 2 diabetes. Takeda has been accused of not warning doctors and patients that Actos can increase the chance of bladder cancer, and of having possessed evidence of this risk as early as 2004.
While Takeda tries to tie up its Actos lawsuits, other pharmaceutical companies struggle with their own diabetes drug lawsuits. AstraZeneca and Merck are currently dealing with lawsuits filed over their incretin mimetic drugs Byetta and Januvia. In 2008, the U.S. Food and Drug Administration (FDA) started receiving reports about hemorrhagic and necrotizing pancreatitis in patients using Byetta. In 2013, the agency launched an investigation into the link between incretin mimetics and increased risk of pancreatitis and pancreatic cancer. Since then, over 600 incretin mimetic lawsuits have been entered into a multidistrict litigation in the U.S. District Court for the Southern District of California.
According to the terms of Takeda’s settlement, the Japan-based company is obligated to pay out if 95 percent or more of Actos lawsuit plaintiffs join the deal before September 11. As of August 12, only 75 percent of claimants had signed up, raising doubts about whether settlements will proceed.
Speak to your doctor about any health concerns you have. If you or someone close was diagnosed with pancreatitis or pancreatic cancer after taking an incretin mimetic like Byetta or Januvia, contact Lopez McHugh today to speak free of charge with a qualified pharmaceutical attorney. You may be entitled to legal damages.