$9B Takeda, Eli Lilly Actos Damages Slashed To $37M
Law360, New York (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.
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