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April 8, 2014
08:39 EDTLLY, TKPYYTakeda to challenge award of $6B in punitive damages, Lilly ordered to pay $3B
Takeda Pharmaceuticals (TKPYY) announced last night that in the case of Terrence Allen, et al. v. Takeda Pharmaceuticals North America the jury found in favor of the plaintiffs and awarded $1.475M in compensatory damages. The allocation of liability was 75% Takeda and 25% Eli Lilly (LLY). The jury also awarded $6B in punitive damages from Takeda and $3B from co-defendant, Eli Lilly. “Takeda respectfully disagrees with the verdict and we intend to vigorously challenge this outcome through all available legal means, including possible post-trial motions and an appeal. We have empathy for the Allens, but we believe the evidence did not support a finding that ACTOS caused his bladder cancer. We also believe we demonstrated that Takeda acted responsibly with regard to ACTOS,” said Kenneth Greisman, senior vice president, general counsel, Takeda. Reference Link
News For TKPYY;LLY From The Last 14 Days
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August 27, 2015
10:32 EDTLLYFDA approvals Synjardy tablets for adults with Type 2 diabetes
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05:20 EDTLLYEli Lilly, Adocia initiate new Phase 1b study of BioChaperone Lispro
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August 25, 2015
17:11 EDTLLYU.S. District Court rules in Eli Lilly's favor on Alimta vitamin regimen patent
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August 20, 2015
13:26 EDTLLYOn The Fly: Top stock stories at midday
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11:33 EDTLLYLeerink major pharmaceuticals analyst holds an analyst/industry conference call
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07:37 EDTLLYEli Lilly's Jardiance for diabetes meets primary endpoint in clinical trial
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August 18, 2015
10:01 EDTLLYEli Lilly says Humalog 200 units/mL KwikPen available in U.S. pharmacies
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