West Virginia residents may be interested in a recent settlement agreement that took place. A well-known pharmaceutical company has recently agreed to a settlement of over $2.3 billion. This is to settle a number of pending lawsuits that occurred after one of the company’s drugs allegedly caused bladder cancer in consumers. The company says that this settlement will be able to resolve most of the pending dangerous or defective products lawsuits.
All of this is related to the diabetes medication, known as Actos, that Takeda Pharmaceutical was manufacturing and selling. It was eventually determined by the court that the company knew there was a risk of bladder cancer in individuals who consumed this drug. However, the company failed to inform consumers of this potential risk.
Takeda, like any other pharmaceutical company, is required by law to test a drug that it wants to put on the market so that it can determine if there are any side effects about which physicians and consumers need to be informed. Its failure to do this is what allegedly caused cancer in thousands of individuals across the country. It is also what has led to the large amount of money that Takeda is having to cough up for its negligence.
This settlement will be able to provide some of the victims with financial compensation that will hopefully help them with any financial burdens that were results of Takeda’s negligence. Unfortunately, it cannot eliminate the bladder cancer or take back the pain that the victims suffered while having to undergo chemotherapy and surgeries. However, in this case and many other dangerous or defective products cases that West Virginia residents may encounter, this type of claim and settlement can hold a company responsible for the harm that it caused by failing to follow proper consumer product safety protocols.
Source: cookcountyrecord.com, “Takeda to pay $2.4 billion to settle more than 9,000 Actos bladder cancer suits“, May 4, 2015