Takeda, Lilly Win 99.6% Cut in Actos Punitive Damages
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Takeda Pharmaceutical Co. and Eli Lilly & Co. won a more than a 99 percent cut in a $9 billion punitive damages award over claims the drugmakers hid the cancer risks of their Actos diabetes medicine.
Jurors properly found officials of Osaka, Japan-based Takeda and Indianapolis-based Lilly intentionally hid the health risks of the drug and should pay punitive damages, U.S. District Judge Rebecca Doherty in Lafayette, Louisiana, ruled. Still, the panel’s decision to order Takeda to pay $6 billion and Lilly $3 billion was excessive and should be reduced to a total of $36.8 million, she said.