Takeda Pharmaceutical Co. the manufacture of Actos diabetes medicine has offered to pay more than $2.2 billion to resolve patients’ claims that the drug caused their cancer, according to Bloomberg News. More than 8,000 patients fighting bladder cancer have filed lawsuits in state and federal court. The settlement offer would pay each patient or his heirs approximately $275,000.
Many people doubt that the $2.2 billion is sufficient to compensate all of the patients. It is speculated that Takeda may choose to settle cases with some lawyers and continue negotiations with others. Plaintiff lawyers who oversee the litigation in federal court for plaintiffs have stated that at this time, “There is no deal.”