Takeda and Lilly pharmaceuticals, face a total of $9 billion in punitive damages after a U.S. jury decided that the drug makers hid the Cancer risks of their Actos diabetes drug.
Actos entered the U.S. in 1999 with global sales $3.85 billion, at its peak. The drug's Patent expired in 2011, with global sales weakening. Regulators in Europe suspended sales of the drug in 2011, citing cancer risks.
Christopher Webber, a French national and first non-Japanese "chief operating officer" said he had taken the job partly because "Takeda's ethical commitments".
Abbott and Takeda's joint venture (TAP) later dissolved, pleaded guilty to a charge of conspiring with Doctors to bill government insurers for free samples. TAP agreed to pay $875 million to resolve criminal and civil liabilities related to the case, which involved Lupron, a prostate-cancer drug.
It is a free pricing of medications but not a free market to import the medication independently. Simple to solve. Just a thought.
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