Takeda has announced that it will extend the deadline for Actos claimants to participate in the company’s $2.37 billion settlement offer.
In April, the drug maker agreed to the multi-billion dollar settlement, provided 95 percent of individuals claiming injury from Actos enrolled in the settlement. By the original enrollment deadline last month, approximately 75 percent of claimants had signed up. Claimants now have until September 11, 2015 to enroll.
Nearly 10,000 lawsuits have been filed against Takeda alleging the diabetes drug caused bladder cancer. The drug maker continues to deny that Actos poses any risk.
Under the terms of the settlement, Actos claimants would receive an average payout in excess of $250,000.
Since 2013, five jury trials have resulted in verdicts for plaintiffs. One trial in Louisiana resulted in a $9 billion verdict for a man who developed bladder cancer. That judgment was reduced by the judge to $36.8 million.
Some experts believe that the large verdicts may cause Actos claimants to opt to take their chances in court, hoping to receive more than what has been offered in the settlement.
Sales of Actos reached a peak in 2011, generating $4.5 billion. Since 1999, Actos sales have topped $16 billion.
The Ohio pharmaceutical attorneys at Clark, Perdue & List have represented hundreds of individuals who have been injured by defective medical devices and dangerous drugs, including Actos. If you or a loved one has been injured and you believe the injury resulted from a pharmaceutical or medical device, contact Clark, Perdue & List.