$2.2 Billion Settlement Offered for Actos Patients with Bladder Cancer
Americans take prescription drugs to manage certain medical conditions so they can feel better, but unfortunately some medications cause more harm than good. Although every drug comes with minor to moderate side effects, patients should be aware of them so they can make an informed decision as to whether or not to use the drug. Takeda Pharmaceuticals, manufacturer of diabetes drug, has been under fire in recent years for failing to disclose that the drug causes an increased risk of bladder cancer. The Asian company recently offered a $2.2 billion settlement to Actos patients who have developed bladder cancer as a result of using the drug.
The settlement, which would settle 8,000 state and federal lawsuits throughout the United States, would be one of the largest involving prescription drugs. Since 2013, Takeda has been involved in nine trials and is interested in settling these claims – many which have been going on for three years – but not at a premium. It would pay approximately $275,000 per case, which isn’t much considering that Takeda and another pharmaceutical company, Eli Lilly & Co., were ordered to pay a $36.8 million settlement just last year.
Actos, also known as pioglitazone, has been on the market since 1999 and has generated sales of more than $16 billion. The drug, when used with a proper diet and exercise, helps lower blood glucose levels in those with type 2 diabetes. When the Food and Drug Administration (FDA) reviewed the drug in 2010, it determined that a person’ risk of bladder cancer could increase after a year of use. Despite this, the drug is still on the market in the United States with this warning listed on the box. Germany and France have since banned Actos.
The FDA also recommends that those who currently have bladder cancer should not use Actos. Those with a history of bladder cancer should use caution when taking the drug. Doctors should determine whether the risks are too great and if there is a risk of the cancer returning. Patients with blood in the urine, painful urination or an urgent need to urinate should discuss these symptoms with their doctor, as these could indicate bladder cancer.
Takeda stands by Actos, claiming that it is beneficial for many patients. Although the company contends that the drug carries some risks, it believes that the benefits outweigh these risks.
Nadrich & Cohen, LLP is pursuing claims on behalf of Actos users and their families, who have received a bladder cancer diagnosis. If you believe that you or a loved one may have a claim, contact us today for a free consultation.