` Takeda Pharmaceutical says it will contest the $6 Billion Punitive Damages Claim Imposed by Jury '

#AceFinanceNews – UNITED STATES – APRIL 08 – (Reuters) – Takeda Pharmaceutical Co Ltd said it would contest $6 billion in punitive damages imposed by a jury in the United States in a case that accused Japan’s largest drug-maker of concealing cancer risks associated with its Actos Diabetes Drug.

Eli Lilly and Co, Takeda’s co-defendant in the case, was ordered to pay $3 billion in punitive damages by the jury in Louisiana on Monday. It also awarded $1.475 million in compensatory damages.

Legal experts said it was unlikely that such a large award would stand after challenges in court by both companies. Eli Lilly and Takeda have said they would dispute the verdict, which could include appeals to a higher court or filing motions asking the trial judge to set aside or reduce the verdict.

“Although there’s no mathematical bright line” to determine how high is too high when it comes to punitive damage awards, federal appeals courts generally scrutinize the ratio of punitive to compensatory damages, preferring those that fall into the single-digit range, according to Professor Catherine Sharkey, a tort law expert at New York University School of Law.

March 06 2012 – Regulators with European Medicines Agency – Break silence today on Safety ……..

Regulators with the European Medicines Agency broke their silence today on the safety of the popular diabetes drug Actos. Although they have decided to keep the drug on the market, warning labels will have to be added about the risk of bladder cancer from long term use.

The move comes more than a month after France and Germany banned all new prescriptions of Actos and the U.S. FDA ordered that warning labels be changed to address the risks of bladder cancer.

Studies into the safety of the drug have been ongoing on both continents for years after initial clinical trials showed lab rats had a slightly increased occurrence of bladder cancer at higher doses.

The most recent data from a French study of more than 150,000 users found that taking higher doses of Actos for more than a year can actually increase the risk of bladder cancer by as much as 40%! http://actosbladdercancerlawyers.net/actos-cancer-risk/actos-cancer-risks/

Read More: http://www.reuters.com/article/2014/04/08/us-takeda-pharm-actos-verdict-idUSBREA3708F20140408

#afn2014, #actos-diabetes-drug, #bladder, #cancer, #european-medicines-agency, #federal-drug-administrationfda, #france, #germany, #japan, #new-york, #takeda-pharmaceutical-company-ltd, #tort-law, #united-states, #us