* Takeda hopes for retrial or reduced verdict
* No connection between Actos and bladder cancer-study
* Takeda shares muted, up 0.4 pct
(Adds Takeda comment, Actos study result, share price, other
Aug 28 Takeda Pharmaceutical Co Ltd and
Eli Lilly & Co lost a bid to overturn 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
"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," U.S. District Judge Rebecca
Doherty of the Western District of Louisiana said on Wednesday.
The development is a setback for Takeda but leaves open the
possibility of a retrial or reduced verdict, for which Japan's
top drugmaker made a separate appeal in April.
A spokeswoman called the latest ruling "unfortunate", adding
that Takeda continued to hope for an outcome in its favour on
the separate appeal. Takeda reiterated its intention to keep
fighting in court rather than settle.
Legal experts have said it was unlikely that such a large
award would stand after challenges in court by both companies.
Lilly, which co-promoted Actos from 1999 to 2006, was not
immediately available to comment. The company has previously
said it will be indemnified by Takeda for its losses and
expenses from the litigation based on the terms of its agreement
Shares in Takeda reacted little to the news, rising 0.4
percent on Friday afternoon, against a slight fall in the
broader Tokyo market.
Actos, an oral Type 2 diabetes medication that regulates
blood sugar levels, has been on the market since 1999.
Takeda on Friday separately announced findings of a 10-year
epidemiology study that concluded that there was no evidence to
suggest that taking Actos led to an increased risk of bladder
Data from the study, conducted by the University of
Pennsylvania and Kaiser Permanente Northern California, was
submitted to regulatory authorities in the United States, Europe
and Japan, it said.
This is the first federal case to be tried in consolidated
multidistrict litigation comprising more than 2,900 lawsuits. In
all three previous Actos trials, Takeda has said, judgments were
entered in its favour.
(Reporting by Anjali Rao Koppala in Bangalore and Chang-Ran Kim
in Tokyo; Editing by Lisa Shumaker and Matt Driskill)