Takeda and Lilly’s fine is reduced in Actos case

28 October 2014

A US district court has reduced the damages to be paid by Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) and US drug major Eli Lilly (NYSE: LLY) by nearly 99%.

Earlier this year the drugmakers failed in their attempt to overturn a combined $9 billion punitive damage award by a US jury for hiding alleged cancer risks associated with their diabetes drug Actos (pioglitazone).

However, Judge Rebecca Doherty reduced the punitive damage award from $6 billion against Takeda and $3 billion against Eli Lilly to $27.65 million against Takeda and $9.22 million against Eli Lilly. Compensatory damages were previously reduced from $1.475 million to $1.27 million.

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