Takeda Pharmaceutical Company
Takeda Pharmaceutical is currently the largest pharmaceutical company in Japan, employing more than 30,000 employees worldwide. Takeda has researched and developed medications to combat a variety of severe health conditions including inflammation, cancer, metabolic disorders, and gastrointestinal issues. Takeda has an estimated annual revenue of more than $16 billion manufacturing drugs such as Actos for Type 2 Diabetes, Amitiza for chronic constipation, Basen for Type 2 Diabetes, Bent for Osteoporosis, Blopress for Hypertension, Enbrel for inflammatory disease, Lupron for prostate cancer, and Uloric for Gout.
Although Takeda Pharmaceutical Co. has made more than $16 billion on its blockbuster drug, Actos, critics of the company argue they may have known about its potential link to bladder cancer as early as 2004. Unfortunately, the company allegedly did not notify United State’s regulators until years later, potentially placing corporate profits ahead of the safety of their prescription users. Currently there are thousands of Actos Bladder Cancer personal injury cases pending in United States courts.
Takeda Pharmaceutical’s Sales
Actos, which was released by Takeda Pharmaceuticals in 1999, has generated an estimated $16 billion in sales, reaching its highest level in 2011 when sales of the product reached an estimated $4.5 billion. Actos is used to help Type 2 diabetics control their blood sugar levels and at one time accounted for more than 27% of Takeda Pharmaceutical’s revenue.
Warnings were issued in 2011 by the Food and Drug Administration (FDA) claiming that taking Actos for an extended period of time could increase a user’s chance of getting bladder cancer. Takeda Pharmaceuticals also acknowledged there could be a link after they conducted their own research and analysis. Lawsuits were then filed by certain users claiming they had been injured due to Takeda’s failure to warn, arguing the company deliberately ignored evidence of a link between Actos and bladder cancer so they could maintain revenues generated by the drug.
Facts about Takeda Pharmaceuticals
- Founded in 1781
- Launched production of Actos in 1999
- Headquartered in Chuo-ku Osaka, Japan
- Operates a United States subsidiary in Deerfield, Illinois
- Research facilities in San Francisco, San Diego, Cambridge and Singapore
- Manufactures in facilities across the globe
History of Takeda Pharmaceuticals
In 1781, Chobei Takeda I started a company which specialized in selling traditional Japanese and Chinese medicines. In 1915, this one man shop had grown to include the Takeda Pharmaceutical Company Limited, which specialized in the research and development of new pharmaceutical products. Takeda Pharmaceuticals was founded on the idea of Takeda-ism which encompasses the core values that guide all of their business actions. The company promotes fairness, perseverance, and honesty while meeting the daily challenges of business. Additionally, the company tries to ensure that their workforce performs their work with passion and commitment, while promoting diversity, teamwork, and innovation.
Takeda Pharmaceuticals Drug Info
Actos, one of the most popular and profitable medications sold by Takeda Pharmaceuticals, was introduced to the market in 1999. After the approval of the diabetes medication by the FDA, Takeda was directed to perform a study to determine whether the drug was safe and effective. Critics of Takeda argue the study was delayed for four years after Actos was introduced to the market, and due to its ten year length, would not conclude until Takeda’s exclusive patent on Actos had expired. Unfortunately, details released in 2011 by Takeda suggested that the drug did potentially increase the risk of bladder cancer for users who took the drug for an extended period of time.
More Takeda Pharmaceuticals Drugs
After the FDA warning and preliminary reports for the Takeda study were published, injured users filed personal injury claims against both Takeda and Lilly, Takedas U.S. partner for selling and marketing the drug over seven years starting in 1999. Currently, there are nearly 6,000 Actos Bladder Cancer Cases pending in courts. These cases include Chicago Actos Bladder Cancer Cases and the Actos lawsuits consolidated in federal court under multidistrict litigation. In 2014, Takeda Pharmaceutical Co. and Eli Lilly & Co. were ordered to pay a combined $9 billion in punitive damages for one personal injury claim, but this amount was later reduced by a federal judge in the case to just $36.8 million. In the judgment issued by U.S. District Judge Rebecca Doherty in Lafayette, La., she argued the initial judgment was excessive and “should be reduced to the maximum amount a jury could have properly awarded under current U.S. law.”