Takeda Offers $2.4bn No-Fault Settlement Of Actos Suits

29 Apr 2015

Following rumors a few weeks ago, Takeda has now formally agreed to settle most of the U.S. product lawsuits relating to its diabetes drug Actos, for a total of around $2.4 billion but with no admission of liability, in a move that will see the firm post a full-year loss.

In an agreement it expects to resolve “the vast majority” of pending product liability suits for Actos (pioglitazone), Takeda Pharmaceutical Co. Ltd. said it would take a $2.7 billion charge in the fourth quarter of fiscal 2014 (which ended Mar. 31) for the settlement and other legal costs related to ongoing cases and associated litigation. A small number of suits in other countries are have been brought.

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