Actos Sales Fall 46% as Actos Lawsuits Continue to Grow
By Andrea Gressman
Takeda, the Japanese pharmaceutical company responsible for manufacturing the diabetes medication Actos, struggles with huge financial losses due to the high number of Actos lawsuits filed against them as well as the fact that generic versions of Actos were recently approved by the FDA and released onto the market.
It has been reported that Actos, which used to be the #1 diabetes drug sold in the United States, has had their number of sales fall by 46.2% in the last 6 months with the period ending on September 30, 2012. It is estimated that the sales of Actos will actually decline a total of 67% from 2011 to 2012. With Actos contributing 20% of Takeda’s total sales in 2011, these numbers show a significant effect on the pharmaceutical company’s financial standings. This plummet in sales became evident in July of 2012 when Takeda’s stock fell substantially. In fact, Takeda’s stock has not been this low in 11 years.
With hundreds of Actos lawsuits filed against Takeda and the new generic version of Actos on the market, it is expected that the days where Actos made huge profits for Takeda is over. There are a number of other pharmaceutical companies manufacturing the generic versions of Actos (pioglitazone) including:
* Watson
* Ranbaxy
* Teva
* Mylan
It is estimated that the generic versions of Actos are now taking $2.7 billion a year away from what was previously spent on Actos. However, it is unclear whether these generic versions of Actos will be responsible for the same potential side effects that could lead to the same situation Actos is facing in numerous Actos lawsuits and potential class action lawsuits against Takeda.
It has been estimated that the number of Actos lawsuits will eventually reach the 10,000 range. Although Actos does have a black-box warning that the FDA required that explains that Actos may cause serious and/or life threatening side effects, there are still 10 million Actos users around the world. The Actos lawsuits have been filed on behalf of Actos users for a number of side effects caused by Actos including:
* Bladder cancer
* Bone fractures
* Congestive heart failure
* Eye disease
Some of the side effects of Actos have even led to a number of fatalities. Hundreds of the Actos lawsuits have been consolidated into a multidistrict litigation (MDL) in the United States District Court for the Western District of Louisiana.
It is expected that Takeda may face more trouble with their financial status as another Actos study is concluded in 2013 – this one has taken place over the past 10 years. The results from this new study could be more devastating news for Takeda.
If you have been diagnosed with bladder cancer, bladder tumors, or one of the other side effects that have been linked to Actos, visit the Actos Bladder Cancer Class Action Lawsuit Investigation page to learn about your legal options. You can provide your information and an Actos lawsuit lawyer will be happy to contact you. Through a free consultation you can learn how you can file your own Actos lawsuit.
Updated November 14th, 2012
All medical device, dangerous drug and medical class action and lawsuit news updates are listed in the Drug and Medical Device section of Top Class Actions.
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