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Takeda’s $2.37 Billion Diabetes Drug Accord Endangered

Actos Diabetes Medicine
JB Reed/ Bloomberg News
Updated on

Takeda Pharmaceutical Co.’s $2.37 billion settlement of thousands of lawsuits over its Actos diabetes medicine didn’t attract enough takers ahead of a deadline, raising doubts about whether the deal will survive.

Asia’s largest drugmaker is obligated to fund the deal after 95 percent of those with claims join it. By Wednesday’s deadline, about 75 percent had signed up, said Andy Birchfield, a lawyer overseeing cases consolidated in federal court in Louisiana. Claimants now have until Sept. 11.