In Santa Clara, CA, victims could be awarded their share of $2.2 billion dollars (approximately $275,000 per case) in personal injury claims if approved. The lawsuits have been filed alleging that Takeda Pharmaceutical Co., maker of the diabetes medication Actos, is at fault for knowingly providing a drug with a high risk for cancer to patients without properly warning customers in advance.
Takeda has agreed to pay $2.2 billion settlement to resolve over 8,000 outstanding lawsuits. If approved, this will be one of the largest settlements in the United States for patients suing drug and medical device makers. Court documents indicate that over 3,500 Actos lawsuits have been consolidated for pretrial information exchanges, but this issues is far from over. Takeda is also facing another 4,500 similar cases in state courts in Illinois, West Virginia, California and Pennsylvania.
According to BloombergBusiness, terms in the latest proposed settlement state that only Actos patients who have already sued or have already hired an attorney to file a lawsuit on their behalf would be eligible to participate in the settlement.
There has never been this large of a settlement for patient vs. drug and medical device makers in the United States. If approved, do you think this will influence the outcome of future cases similar in nature?