Takeda Pharmaceutical's $2.37 billion settlement over Actos drug moves forward

Sep 21 2015

MT Services LLC, a Lawsuit Settlement News Reporting Company which operates lawsuitsettlementnews.com, announced today that Takeda Pharmaceutical Co.'s $2.37 billion settlement over their diabetes drug Actos is going through and moving forward. Actos drug maker, Takeda, agreed to toss in another $100 million if enough claimants signed up with matching settlement criteria – 97% of the claims to be exact. There are approximately 10K lawsuits against them of claims that Actos causes cancer, and now that enough claimants are on board and participating in the settlement offer, the $2.37 billion settlement is moving forward. The high settlement would result in average awards of more than $296,000 per case for plaintiffs who participated the settlement, however, settlement awards may be reduced depending on certain factors such as age, smoking history, and toxin exposure. Despite the settlement, Takeda stands behind their diabetes drug Actos.

Chris Janish, CEO of MTS, commented on the recent update in the Actos settlement, "We are pleased to see that the settlement is now moving forward. The light at the end of the tunnel for so many Actos plaintiffs and their families is now visible. However, there still remains a long process to finally get their funds. We don't anticipate payments until early 2016 in most cases. However, we are now able to offer the lowest rates on certain Actos cases for clients who need a portion of their money now."