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Actos Link To Bladder Cancer Leads To Decrease In Manufacturer’s Profits

Actos Link To Bladder Cancer Leads To Decrease In Manufacturer’s Profits

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. 

 

Actos Multidistrict Litigation Pending As EMA And FDA Still Pushing Drug As Second Line Treatment

Actos Multidistrict Litigation Pending As EMA And FDA Still Pushing Drug As Second Line Treatment

The European Medicines Agency has recently announced that, despite a serious risk for causing bladder cancer, the prescription medication Actos – or Glustin as it is known in some European countries – should still be prescribed by physicians as a second or third line treatment option for patients suffering from Type 2 diabetes. The EMA – as well as the U.S. Food and Drug Administration – contended as recently as July 2011 that Actos createded a greater risk of bladder cancer to patients using the drugs than those not using them.

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Takeda Attorneys Agree With Plaintiff Claim To Consolidate Actos Lawsuits

Takeda Attorneys Agree With Plaintiff Claim To Consolidate Actos Lawsuits

Back in August, plaintiffs suing the drug maker Takeda Pharmaceuticals filed motions to consolidate the lawsuits of bladder cancer patients who have taken Takeda’s drug Actos. On September 29, Takeda attorneys filed a response to the U.S. Judicial Panel on Multidistrict Litigation agreeing with the plaintiffs that multidistrict litigation, or MDL, should be formed to consolidate all pre-trial litigation in these cases.

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Despite Bladder Cancer Risk, European Medicines Agency Does Not Recall Actos

Despite Bladder Cancer Risk, European Medicines Agency Does Not Recall Actos

Despite a reported link to an increased risk of bladder cancer, European drug regulators have determined that a recall of the diabetes drug Actos is not necessary. On October 21, 2011 the European Medicines Agency issued a clarification of its position on Actos, also marketed as Glustin in Europe. The EMA is now urging doctors to only recommend the drug to patients if other medications for diabetes have proven effective.

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Recent Cancer Lawsuits Highlight Alleged Danger of Actos

Recent Cancer Lawsuits Highlight Alleged Danger of Actos

The U.S. Food and Drug Administration recently announced “that use of the diabetes medication Actos (pioglitazone) for more than one year may be associated with an increased risk of bladder cancer.” The FDA explains that from January 2010 through October 2010, “approximately 2.3 million patients filled a prescription for a pioglitazone-containing product from outpatient retail pharmacies.”

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