Jury smacks Takeda, Eli Lilly with $9B verdict over Actos drug


A jury has ordered Japan's Takeda (TKPYY) to pay $6B and Eli Lilly (LLY) $3B in punitive damages over allegations that they hid the cancer risks associated with the diabetes therapy Actos.

However, Eli Lilly could be off the hook, as Takeda agreed to indemnify Lilly for any legal liability connected to Actos.

In addition, the award is likely to be cut on appeal, as the Supreme Court has set limits on punitive verdicts.

In two previous cases, judges quashed multi-million dollar awards against Actos.

Notwithstanding, Takeda's shares slumped 5.2% in Tokyo.

Comments (1)
  • glf4mny
    , contributor
    Comments (464) | Send Message
     
    The jury finds only $1.475 million compensatory damages and then adds on, are you ready for this, $9 billion punitive. How ridiculous.
    8 Apr 2014, 11:18 AM Reply Like
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