(PRWEB) March 29, 2012
The Consumer Justice Foundation, a for-profit corporation whose team of consumer advocates provides free online informational resources to individuals with regards to the potential dangers of certain prescription medications, hereby alerts the public of the forthcoming expiration of the patent for Actos, a diabetes medication. This expiration comes while a multi-district Actos whistleblower lawsuit moves forward.
Takeda Pharmaceutical, a Japanese company and the manufacturer of Actos, actually managed to secure 20 additional months of market exclusivity, as its patent technically expired in January of 2011. However, the company reached an agreement with generic drug makers Ranbaxy, Watson and Mylan such that they will not begin marketing generic Actos until August of 2012, according to an article that appeared in Daily Finance.
As part of the announcement of the expiration of the Actos patent, an article that appeared in Healthcare Finance News also stated that Actos sales generated $3.58 billion in revenue for Takeda Pharmaceutical. This represented more than 25 percent of the company’s overall revenue during that timeframe.
The news of the expiration of the Actos patent comes at the same time as an Actos whistleblower lawsuit advances in the court system. This lawsuit, known as U.S. ex rel. Helen Ge v. Takeda Pharmaceutical Co., 10-cv-11043, U.S. District Court, District of Massachusetts (Boston), alleges that when Actos side effects became a public issue and the drug came under scrutiny, executives at Takeda Pharmaceuticals attempted to direct in-house medical reviewers to change their professional opinions with regards to these dangers.
All of this news with regards to Actos, Takeda Pharmaceutical and the Actos side effects lawsuit filed by a whistleblower suggest the possibility that the market share and revenue generated by this medication will not remain at its current level.
About the Consumer Justice Foundation
The Consumer Justice Foundation, whose Web site can be found at http://www.consumerjusticefoundation.com, is a for-profit organization that serves two purposes for consumers: (1) to provide educational information regarding the policies and procedures of large corporations and how they affect the average consumer; and (2) to provide news updates and resources that continue to update consumers regarding developments taken by corporations that include pharmaceutical drug companies, auto manufacturers and insurance companies so that consumers who have been harmed can use these informational resources to connect to an experienced professional who can help them. The team at the Consumer Justice Foundation is staffed by experienced and passionate consumer advocates whose mission is to raise the awareness of issues that could pose a risk of harm to those who may not otherwise be aware of the dangers they face.