According to Takeda Pharmaceuticals, settlements of up to 2.7 billion dollars will be dispersed to victims or the family of the victims who suffered from bladder cancer due to taking the defective drug Actos (pioglitazone) to control their diabetes.
Approximately 9,000 cases are pending against the pharmaceutical company. Lawyers for the victims claim that Takeda failed to adequately disclose the risks of cancer from taking Actos. Takeda does not admit liability, but wants to avoid complicated litigation.
Richard J. Arsenault, one of the plaintiff’s lawyers stated:
We are pleased that Takeda has agreed to provide $2.4 billion to compensate thousands of deserving bladder cancer victims. After years of hard-fought and contentious litigation, the defendants have finally stepped up to the plate, and we applaud that effort.