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Eli Lilly and Company (LLY), Takeda Pharmaceutical Co. Ltd. (TKPYY) Lose Bid To Overturn $9 Billion Award For Hiding Actos' Cancer Risk



8/29/2014 5:59:23 AM

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Aug 28 (Reuters) - Takeda Pharmaceuticals and Eli Lilly & Co lost a bid to overthrow a combined $9 billion punitive-damage award by a U.S. jury for hiding cancer risks associated with their Actos diabetes drug, according to a court ruling.

"Plaintiffs have pointed to sufficient evidence from which the jury could have concluded that the 'information' about bladder cancer contained in Actos labels did not adequately warn of the increased risk of cancer," said U.S. District Judge Rebecca Doherty of the Western District of Louisiana on Wednesday.

Punitive damages are meant to discourage companies from bad conduct. Compensatory damages are meant to pay victims for their actual losses.

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