$9B Takeda, Eli Lilly Actos Damages Slashed To $37M
By Sindhu Sundar (October 27, 2014, 5:57 PM EDT) -- A Louisiana federal judge on Monday slashed a $9 billion punitive damages award against Takeda Pharmaceutical Co. Ltd. and Eli Lilly & Co. over the diabetes drug Actos to $36.8 million, ruling the jury "should bow" to the Constitution's due process clause.
U.S. District Judge Rebecca Doherty said the jury's April verdict was not unreasonable, ruling that punitive damages in the case should be roughly 25 times the amount of compensatory damages and no more. The companies, which jointly marketed the drug, were to split the payment of $1.5 million in actual damages to plaintiffs Terrence and Susan Allen.
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!