Takeda Offers $2.4 Billion Payoff To Resolve Lawsuits

A Japanese pharmaceutical giant with its United States headquarters in Deerfield will pay up to $2.4 billion to patients and their families over a drug linked to bladder cancer.

Takeda Pharmaceutical Co. representatives said Wednesday the settlement would resolve most of the 9,000 or so lawsuits from people who say the company failed to inform the of the cancer risks associated with Actos, a diabetes drug - the Chicago Sun-Times reports. It would not admit liability, however.

The settlement will go into effect if 95 percent of the litigants agree to the deal, and the company would pay $2.37 billion. If the number of participants rises to 97 or more, Takeda will pay $2.4 billion. The amount would be split among the plaintiffs.

more via the Chicago Sun-Times