Despite Recent Jump in Sales for Manufacturer, Actos Lawsuits Likely to Rise
The pharmaceuticals company facing a rising number of Actos lawsuits filed over its diabetes drug recently reported a spike in sales during the first-half of its financial year, but that may not have been possible without the manufacturer’s acquisition of two U.S. drug companies, according to PMLive.com.
On Oct. 31, Takeda Pharmaceuticals released an earnings report, which reflected a 12 per cent hike in sales to 787bn yen. This jump in revenue, for the largest pharmaceutical company in Japan and Asia, was realized even after a generic version of the widely-used type-2 diabetes drug, Actos, was approved by the U.S. Food and Drug Administration (FDA) in August.
During the first-half of Takeda’s financial year, the company acquired U.S. drugmakers URL Pharma and Nycomed. But that rise in revenue has done little to offset the mounting evidence of Actos side effects in the U.S. and abroad. Among the growing list of glaring concerns about the type-2 diabetes drug, Actos has been most frighteningly suggested to cause bladder cancer in long-term users, especially men over the age of 60.
And just how much higher is the risk for Actos users to develop the disease? 22 percent higher than in non-users, a recent study stated. Given those concerns, France and Germany pulled this drug from shelves last summer.
To the surprise of the medical community though, the U.S. FDA granted permission for Watson Pharmaceuticals to start selling a generic version, pioglitazone, in 15 milligram, 30 mg and 45 mg doses in August. Following this news, Consumer Reports issued a public health alert warning diabetics to use Actos “only as a last resort.”
With its decision to allow the sale of Actos and its generic version, pioglitazone, the FDA revised the labels on both brands to include stern warnings about the potential to cause or worsen not only bladder cancer, but also heart failure, liver disease and bone fractures if used for more than one year. Both brands now carry Boxed Warning labels.
As more and more people develop bladder cancer as a result of taking Actos, the amount of Actos lawsuits are likely to rise in the U.S. and around the world. If you developed this side effect, call a lawyer at Bernstein Liebhard LLP at (877) 779-1414.