Eli Lilly has major problems with drugs other than Propoxyphene (Darvon and Darvocet). The drug is a diabetes medicine - Actos - and it's thousands of people who require financial compensation from Eli Lilly and Takeda.
(Some of my most important tweets about Darvon & Darvocet fatalities in US, India and Sweden http://bit.ly/1efdGQ8
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My favorite enemy among Big Pharma - Eli Lilly - is in trouble again, this time with Japan's largest pharmaceutical company, Takeda http://lat.ms/1oOQCOF
I have followed this case for about three years - and now the judgment of the Court arrived.
The Court noted that a diabetes medicine - Actos - linked to numerous cases of bladder cancer and damages of 9 Billion Dollars - about 60 billion - has been imposed.
In Eli Lilly's annual report, the "Form 10-K Annual Report Filed February 19, 2014 ," writes Eli Lilly, the company is replaced by Takeda for any damages awarded to you - as it is this day
We'll see if Eli Lilly can completely do without to help pay a large compensation , but the company - ie Eli Lilly - lose of course quite a lot in the eventual Good Will the company still might have.
Takeda shares fell on the Tokyo Stock Exchange by 5.2%. No changes were recorded for Eli Lilly shares - at least not yet.
- Under our agreement with Takeda, we will be indemnified by Takeda for our Losses and Expenses withrespect to the U.S. litigation and other related Expenses in accordance with the terms of the indemnification agreement.
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