Takeda loses bid to overturn $9B damage award

|By:, SA News Editor

U.S. District Court of the Western District of Louisiana Judge Rebecca Doherty rules that the label of Takeda Pharmaceuticals' diabetes drug Actos did not adequately warn patients about the increased cancer risk. The $9B punitive damages awarded by a U.S. jury will stand for the time being.

The company made a separate of the verdict in April. Legal observers do not believe that the full amount of the award will stand.

Eli Lilly (NYSE:LLY) co-promoted Actos from 1999 to 2006. It says that Takeda agreed to indemnify it for its losses and expenses in the matter under the terms of its agreement.