Takeda Responds to $6B Verdict in Diabetes Drug Case
Takeda Pharmaceuticals U.S.A.(OTC: TKPYY) announced that in the case of Terrence Allen, et al. v. Takeda Pharmaceuticals North America, Inc., et al, No. 6:12-cv-00064 the jury found in favor of the plaintiffs and awarded $1.475 million in compensatory damages. The allocation of liability was 75% Takeda and 25% Eli Lilly (NYSE: LLY). The jury also awarded $6 billion in punitive damages from Takeda and $3 billion from co-defendant, Eli Lilly. The trial began on February 3 in United States District Court, Western District Louisiana, before Judge Rebecca Doherty.
"Takeda respectfully disagrees with the verdict and we intend to vigorously challenge this outcome through all available legal means, including possible post-trial motions and an appeal," said Kenneth D. Greisman, senior vice president, general counsel, Takeda Pharmaceuticals U.S.A., Inc. "We have empathy for the Allens, but we believe the evidence did not support a finding that ACTOS caused his bladder cancer. We also believe we demonstrated that Takeda acted responsibly with regard to ACTOS."
Judgments were entered in Takeda's favor in all three previous ACTOS trials.
This is the first federal case to be tried and the first in the consolidated ACTOS multidistrict litigation (MDL).
"Patient safety is a critical priority for Takeda," said Greisman. "We are confident in the therapeutic benefits of ACTOS and its importance as a treatment for type 2 diabetes."
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