Search: Look for:   Last 1 Month   Last 6 Months   All time
Home :: World

US jury slaps $9 bn fine on drugmakers

United States,Crime/Disaster/Accident,Health/Medicine, Wed, 09 Apr 2014 IANS

Washington, April 9 (IANS/EFE) A US federal court jury imposed fines and compensations for a value of some $9 billion on drug manufacturers -- Takeda Pharmaceutical Co. and Eli Lilly & Co. -- for their cover-up of the cancer risks found in their diabetes medication Actos.

The jury in Lafayette, Louisiana, ordered Japan's Takeda to pay $6 billion, while its partner Lilly, based in Indianapolis, Indiana, was handed a penalty of $3 billion.

"I hope Takeda executives in Japan heard what this jury had to say loudly and clearly," Mark Lanier, a lawyer representing former Actos user Terrence Allen, said.

The jury had already awarded $1.5 billion in compensatory damages to Allen, who blamed the medication for developing his cancer of the bladder.

The judgment is one of the largest in the history of the US, but will probably be reduced because the Supreme Court has ruled that punitive damages should be proportional to compensatory damages.

In the previous 10 cases with the largest punitive damages, no company has paid the amounts requested by this jury.

Takeda, the biggest drugmaker in Japan and one of the 15 largest in the world, expressed in a communique its disagreement with the ruling. The company said it would appeal the sentence, while Lilly, its partner, issued a similar statement separately.

--IANS/EFE

sd


LATEST IMAGES
Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image
 
 

Comments:


 

OTHER TOP STORIES


Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.