Actos Lawsuit Settlement: Takeda Pharmaceutical Co. to Pay As Much As $2.4 Billion to Resolve Claims Alleging Actos Causes Bladder Cancer
New York, New York (PRWEB) May 04, 2015 -- Takeda Pharmaceuticals Corp. has agreed to pay as much as $2.4 billion to settle thousands of Actos lawsuits (http://www.theactoslawsuitcenter.com/) that allege the Type 2 diabetes medication increases the risk that a patient will develop bladder cancer. According to court documents issued on April 28th, if 95% of those eligible for the Actos settlement accept its terms, the accord will resolve nearly 9,000 bladder cancer cases currently pending in courts around the country, including thousands that have been filed in the multidistrict litigation underway in U.S. District Court, Western District of Louisiana. (In re: Actos Product Liability Litigation, MDL No. 2299)
“Our Firm is representing a number of clients who have filed Actos lawsuits in the federal litigation. We are pleased that Takeda has moved to resolve this litigation, as the newly-announced Actos settlement could allow thousands of plaintiffs to avoid protracted and expensive court proceedings,” says Sandy A. Liebhard, a partner at Bernstein Liebhard LLP, a nationwide law firm representing the victims of defective drugs and medical devices. The Firm continues to offer free legal evaluations to individuals who were treated with Actos for a year or more, and who allegedly went on to develop bladder cancer due to their use of the drug.
Actos Settlement Terms
According to court records filed in the Western District of Louisiana on April 28th, Takeda will pay $2.37 billion if 95% of eligible plaintiffs agree to participate in the Actos settlement program. However, the total payout will rise to $2.4 billion if at least 97% percent elect to particpate. Eligible plaintiffs include Type 2 diabetes patients who were prescribed an Actos medication, including Actos, ACTOplus Met, ACTOplus Met XR, or Duetact, prior to December 1, 2011, and who were diagnosed with bladder cancer prior to April 28, 2015. According to Bloomberg News, the settlement could provide each eligible plaintiff with a payment of more than $296,000. However, certain factors, including age, smoking history and exposure to toxins, could result in a reduced award.*
According to court filings, all of the Actos lawsuits pending in the Western District of Louisiana and elsewhere allege that Takeda Pharmaceuticals concealed data linking the use of Actos to the development of bladder cancer. The Actos litigation has been growing since 2011, when the U.S. Food & Drug Administration warned that long-term use of the medication was associated with a doubling of the risk of bladder cancer.
Bernstein Liebhard LLP has updated its website with the most current information regarding the proposed Actos settlement. To learn more about filing an Actos lawsuit, and to arrange for a free, no-obligation review of your case, please visit the site or call 800-511-5092.
*bloomberg.com/news/articles/2015-04-28/takeda-said-to-agree-to-pay-2-3-billion-to-settle-actos-cases, Bloomberg News, April 28, 2015
About Bernstein Liebhard LLP
Bernstein Liebhard LLP is a New York-based law firm exclusively representing injured persons in complex individual and class action lawsuits nationwide since 1993. As a national law firm, Bernstein Liebhard LLP possesses all of the legal and financial resources required to successfully challenge billion dollar pharmaceutical and medical device companies. As a result, our attorneys and legal staff have been able to recover more than $3 billion on behalf of our clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs' firms in the country. Bernstein Liebhard LLP is the only firm in the country to be named to this prestigious list every year since it was first published in 2003.
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ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, 800-511-5092. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Sandy A. Liebhard, Esq.
info (at) consumerinjurylawyers (dot) com
http://www.theactoslawsuitcenter.com/
https://plus.google.com/115936073311125306742?rel=author
Sandy A. Liebhard, Actos Bladder Cancer Lawsuit Settlement, http://www.theactoslawsuitcenter.com/, +1 800-511-5092, [email protected]
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