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Verdict In: Jury Orders Takeda Pharmaceutical Co. Ltd. (TKPYY), Eli Lilly and Company (LLY) To Pay $9 Billion In Damages Over Actos



4/8/2014 6:06:41 AM

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Takeda Pharmaceutical Co. (4502) and Eli Lilly & Co. (LLY) were ordered to pay a combined $9 billion in punitive damages after a federal court jury found they hid the cancer risks of their Actos diabetes medicine in the first U.S. trial of its kind.

Takeda, based in Osaka, Japan, was ordered to pay $6 billion by the jury yesterday in Lafayette, Louisiana. Its shares fell 5.2 percent to close at 4,572 yen in Tokyo, the biggest decline since Dec. 27. Indianapolis-based Eli Lilly, Takeda’s partner, was ordered to pay $3 billion. Lilly dropped 2.2 percent to the equivalent of $57.32 in German trading.

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