Takeda and Eli Lilly to pay $9 billion as Punitive Damage

August 29, 2014 11:19 AM

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A recent Louisiana court judgment said that Takeda Pharmaceuticals and Eli Lilly & Co have lost a bid to overthrow a combined $9 billion punitive-damage award by a US jury. Both the companies were found guilty for hiding the fact that Actos, a diabetes medicine, had higher risks of bladder cancer.

U. S. District Judge Rebecca Doherty in Lafayette, Louisiana on Thursday said in a judgment that Takeda, a Japan-based company, and Eli Lilly, Indianapolis-based pharmaceutical major, were well aware that Actos was associated with higher bladder cancer risk. Both the companies even failed to warn pa...

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