Japan-based Takeda Pharmaceutical Company and its US subsidiary have entered an agreement to settle multiple product liability lawsuits pending against Actos (pioglitazone HCl) over allegations that the drug is a cause of bladder cancer. .
The company has agreed to pay $2.4bn to resolve the claims and the settlement will become effective if 95% of current litigants and claimants opt for it.
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Actos is a prescription medicine that is used with diet and exercise to improve blood sugar (glucose) control in adults with type 2 diabetes.
Takeda said: "The settlement will reduce financial uncertainties for the company and provides a significant degree of assurance toward resolving a high percentage of the Actos product liability claims.
As part of the settlement, current litigants and claimants who meet prescribed criteria will receive payouts from the fund.
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Actos is not suitable for the treatment of type 1 juvenile diabetes or diabetic ketoacidosis (increased ketones in blood or urine).
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By GlobalDataThe drug continues to be available as a treatment option in the US, Japan and other countries, while pioglitazone received approval in 95 countries, including the US, Japan, European countries, Australia, Brazil, Canada and Russia.
Image: Takeda Pharmaceutical Company’s head office in Chuo-ku, Osaka, Japan. Photo: courtesy of J o.
