Takeda, Eli Lilly Stuck With $9B Actos Verdict

By Daniel Siegal (August 28, 2014, 9:07 PM EDT) -- A Louisiana federal judge on Thursday denied a Takeda Pharmaceutical Co. Ltd. and Eli Lilly & Co. bid to overturn the $9 billion verdict in a bellwether trial over allegations the companies hid the cancer risks of diabetes drug Actos, upholding the jury's punitive damages award.

In July, the companies moved for judgment as a matter of law and for a new trial, tossing numerous grounds for invalidating the April verdict, reported as the seventh largest punitive damages award in U.S. history. The verdict sustained claims originally filed in New York by plaintiffs Terrence and Susan Allen that Actos manufacturer Takeda and...

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