Takeda Won't Commit To Cover Eli Lilly For $9B Verdict
Law360, Chicago (April 24, 2014, 9:24 PM EDT) -- Takeda Pharmaceutical Co. Ltd. isn’t conceding that it needs to pay Eli Lilly & Co.’s piece of a $9 billion verdict against the two companies for allegedly hiding the cancer risks of the diabetes drug Actos, the Japan-based drugmaker said Thursday.
Takeda said in a statement that it has reserved its rights to dispute Eli Lilly’s claim that Takeda agreed to indemnify its Actos marketing partner for losses in litigation over the drug, including the bellwether verdict handed down in Louisiana federal court earlier this month.
The judgment in favor of Terrence and Susan Allen marked the first federal jury decision in...
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