Takeda Pharmaceuticals has decided to wrap up the remaining Actos linked bladder cancer lawsuits. Takeda settled two more claims this week, after a two-month trial in Nevada state court.
Actos Settlement Band Wagon Keeps On Rolling
In September, Takeda said that 96% of Actos claimants signed up for its $2.3 billion settlement offer, settling most of the 8,000 plus cases pending in state and federal courts.
On other fronts, Takeda settled the 7 out of 9 cases that had been tried and were up on appeal. Takeda also agreed to toss in an extra $100 million if 97% of claims matched up with settlement criteria. Takeda is trying close down the Actos bladder litigation, by encouraging as many plaintiffs as possible to settle their injury claims and keep the settlement band wagon rolling on.
At this time, claimant settlement packages, medical records and proof of brand name Actos use are going to be reviewed by the defense. It is anticipated that this in depth review process will take several months to determine eligible claimants and roll into mid 2016.Folks who used generic Actos only will not be considered for settlement.
Once eligibility is determined after passing strict opt-in criteria, then a point system matrix will be used to determine how much each affected patient will get. Then, the incurred medical costs bladder cancer treatment will be determined and paid for by the settlement proceeds. As can been seen, all of this will be extremely time consuming and it is anticipated that patients will not get their settlement checks until 2017 at the earliest.
Nevada Actos Bladder Cancer Lawsuit
In the on-going Actos trial, George Decou and the family of Maurice Iorio, who died of bladder cancer in November 2013, agreed to settle their claims.
The Las Vegas trial started in August, claimed that Takeda Phamaceuticals failed to adequately warn patients and the doctors about the risk Actos side effects which increase the risk of bladder cancer.
Decou and Iorio claimed more than $2 billion in damages at the trial, alleging that Takeda concealed what they knew about Actos risks and “destroyed evidence on a massive scale in an attempt to avoid responsibility.”
8,000 Plus Actos Bladder Cancer Claims
Across the U.S., more than 8,000 Actos injury lawsuits have been filed in state and federal courts. According to experts, plaintiffs will receive an average payment of about $296,000 per case, with reductions for smoking, age at diagnosis, mild forms of cancer and other patient risk factors.
What is Actos and Why is it Dangerous?
Actos (pioglitazone) had blockbuster sales in the type 2 diabetes drug market, and Takeda reaped huge profits from this drug.
But, experts became concerned in 2010 about the link between Actos and bladder cancer.
In June 2011, the FDA required Takeda Pharmaceuticals to change the Actos warning label, to warn about the bladder cancer risk and notifying patients that they may face an increased risk the longer the medication is used.
Takeda Hid Dangers of Actos
Injured plaintiffs claim that Takeda knew about the risk of bladder cancer from Actos, but actively hid the information from FDA regulators, patients and the doctors.
Bell Ringer $9 Billion Actos Verdict
In April 2014, Takeda Pharmaceuticals was hammered in whopping $9 billion verdict in the first federal Actos trial. The stunning verdict was reduced to $37 million by the U.S. District Judge presiding over the federal litigation.