Actos Settlement Agreement: What You Need to Know
In 2015, Takeda Pharmaceuticals agreed to pay $2.4 billion to settle thousands of lawsuits related to the diabetes drug Actos. The settlement, which is one of the largest ever for a drug manufacturer, followed years of litigation over allegations that Actos caused bladder cancer and other serious side effects.
If you or a loved one have taken Actos and experienced adverse health effects, it is important to understand the details of the settlement agreement and how it may impact your legal rights.
What is Actos?
Actos (pioglitazone) is a type 2 diabetes medication that was approved by the U.S. Food and Drug Administration (FDA) in 1999. The drug works by helping the body use insulin more effectively to lower blood sugar levels.
Although Actos was initially hailed as a safer alternative to other diabetes drugs, concerns about the drug`s safety began to emerge in the early 2000s. Studies linked Actos to an increased risk of bladder cancer, heart problems, and other serious health issues.
What Happened in the Lawsuits?
In 2011, the FDA issued a warning about the potential risks of Actos, and the agency required that a warning about bladder cancer be added to the drug`s label.
Over the next few years, thousands of people who had taken Actos and developed bladder cancer filed lawsuits against Takeda Pharmaceuticals, the drug`s manufacturer. The plaintiffs accused Takeda of failing to warn patients about the risks of the drug and of actively concealing evidence of its dangers.
In 2014, a federal jury in Louisiana awarded $9 billion in damages to a group of Actos users who had developed bladder cancer. Although that award was later reduced to $36.8 million, it marked a significant turning point in the legal battle over Actos.
What is the Settlement Agreement?
In 2015, Takeda Pharmaceuticals agreed to pay $2.4 billion to settle around 9,000 lawsuits related to Actos. Under the terms of the settlement, individual claimants who had already filed lawsuits would receive varying amounts of compensation, depending on the severity of their injuries.
The settlement also established a fund to compensate future plaintiffs who develop bladder cancer or heart problems after taking Actos. However, the exact amount of that fund is not publicly known.
How Does the Settlement Affect Your Legal Rights?
If you or a loved one have taken Actos and experienced adverse health effects, you may be eligible to file a lawsuit against Takeda Pharmaceuticals. However, if you want to pursue legal action, it is important to act quickly.
The Actos settlement agreement included a provision that required plaintiffs who had not yet filed a lawsuit to do so within a certain timeframe. If you miss that deadline, you may be barred from seeking compensation in the future.
Additionally, even if you file a lawsuit, the amount of compensation you receive will depend on many factors, including the severity of your injuries and the strength of your case. Consulting with an experienced attorney who has expertise in litigating personal injury cases could help you understand the complexities of the legal process and what options are available to you.
The Actos settlement agreement was a major milestone in the legal battle over the drug`s safety. However, it is important to remember that the settlement does not absolve Takeda Pharmaceuticals of responsibility for the harm caused by Actos.
If you or someone you know has taken Actos and experienced adverse health effects, it is crucial to seek legal advice to determine whether you have a viable case for compensation. An experienced attorney can help you navigate the legal process and advocate for your rights.