Actos Link To Bladder Cancer Leads To Decrease In Manufacturer's Profits - Newsome | Melton Law
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Amid recent warnings from the FDA and the public’s mounting worry over evidence that Actos (pioglitazone) may cause bladder cancer, Takeda Pharmaceutical Company is suffering a significant dent in its profits due to falling sales of the once popular diabetic drug.

Takeda Pharmaceutical Company, the biggest maker of drugs in Japan, has stated that it experienced net profits of only $1.74 billion for the six months before the end of September. The pharmaceutical company further states that it will have had a 31 percent decrease in its profit margin by March 2012.

The greatest portion of Takeda’s financial troubles are being blamed on the safety related failure of Actos, a glucose regulation medication, that was shown in 2010 to increase the chance of bladder cancer.

Takeda Pharmaceuticals, a third of which is owned by overseas investors, has suffered a 13 percent decrease in shares since January 2011. Despite successful sales of Nesina, a diabetes drug and Vectibex, a cancer drug, the company still carries the burden of their losses in shares and profits.

Actos was released in July 1999 to improve blood sugar levels in people with Type 2 diabetes. Until the shocking news about the drug’s link to bladder cancer surfaced, it was Takeda’s most profitable drug, bestowing the company with $3.4 billion in profits just last year.

The link between Actos and bladder cancer was initially uncovered in September 2010 after the FDA released documents regarding an active 10-year study that showed evidence that the longer a person takes Actos, the higher their risk of developing bladder cancer.

After reviewing public health insurance data in June 2011 and finding that Actos was indeed responsible for higher numbers of bladder cancer incidents, French authorities issued a recall of the drug.

As of August 2011, the FDA approved updated warnings for Actos.  The new warnings caution that those who are on the drug for longer than one year may face an elevated risk of developing bladder cancer.

Over the last several months, greater numbers of people in the United States have began filing lawsuits against the drug firm, armed with allegations that the company failed its responsibility to warn patients and doctors about the link between Actos and bladder cancer.  it is not surprising that a large number of the suits filed against Takeda state that the company should have recalled the drug immediately, stating that any benefits from the drug are not worth the risk of developing cancer.

Numerous lawsuits have been filed by people in the United States who suffered bladder cancer after using Actos. On December 1, judges heard arguments  about whether all federal cases against the drug company should be consolidated into one multi-district litigation (MDL).

If you or a loved one have been diagnosed with bladder cancer after using Actos, contact Newsome Law Firm and fill out a case evaluation form today. Our team of attorneys has experience specific to complications associated defective drugs. Not only can they give you the legal guidance you need, they can help you get the compensation you deserve.