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.
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.
Actos is not suitable for the treatment of type 1 juvenile diabetes or diabetic ketoacidosis (increased ketones in blood or urine).
The 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.