Actos Sales Predicted to Falter as Takeda Faces More Lawsuits

Nadrich & Cohen LLP reports that business analysts are predicting that Japanese drug-maker Takeda Pharmaceuticals will see a 50% drop in Actos sales as bladder cancer claims continue to mount.

Los Angeles, CA, December 26, 2011 – In 2010, Type 2 diabetes drug Actos generated approximately $4.8 billion in revenues for its manufacturer, Takeda Pharmaceuticals. According to a recent report from Bloomberg, the company will most likely see a loss of up to $2.1 billion in Actos sales in the next fiscal year as generic forms of the drug begin to hit the market.

The prediction signals more bad news for the drug-maker, which is currently facing thousands of lawsuits in both the U.S. and Canada from diabetes patients who say the drug caused them to develop bladder cancer. Lawsuits have been filed in state and federal courts across the country and it is estimated that the total number of claims could eventually top 10,000. Many of the cases have been consolidated into multidistrict litigations for pretrial proceedings.

Actos, or pioglitazone, was first approved by the U.S. Food and Drug Administration in 1999 to treat Type 2 diabetes in adult patients. Potential problems with the drug were first brought to light in September 2010, when the FDA announced that the preliminary findings of a ten-year research study indicated that Actos users may be at greater risk for developing bladder cancer. In June 2011, the FDA issued a new safety warning advising patients and physicians that taking the drug for a year or more could significantly elevate bladder cancer risk.

Although the FDA says it will continue to review the safety of Actos, there are currently no plans to issue a recall of the drug, despite the pending litigation. Health officials in France and Germany pulled the drug off the market in June 2010 but the European Medical Agency continues to show support for the use of Actos to treat diabetes patients for whom other methods would be ineffective.

Takeda Pharmaceuticals has declined to comment on the pending litigation and the speculation that competition from generics will drastically impact sales. With the tide of litigation rising steadily, the company could face a severe financial setback if it’s determined that Takeda knowingly marketed and sold Actos despite the potential health risks.

Actos users who developed bladder cancer after taking the drug are encouraged to contact a personal injury attorney to discuss their case. Prominent national law firm Nadrich & Cohen LLP is currently offering free case reviews to concerned patients in all 50 states. Help is available by calling 1-800-722-0765 or by visiting the firm’s Actos bladder cancer resource site at www.SideEffectActos.com.

Nadrich & Cohen LLP is a national law firm specializing in representing clients nationwide who’ve been injured by defective medical devices, harmful prescription drugs, faulty products, traffic accidents, workplace accidents and dog bites. To learn more about our firm, visit www.PersonalInjuryLawCal.com.

Jennifer Poole
National Client Intake Coordinator
Nadrich & Cohen LLP
12100 Wilshire Blvd.
Suite 1250
Los Angeles, CA 90025
800-718-4658
www.personalinjurylawcal.com

This release was published on openPR.