Takeda to Cut Jobs in Face of Slowing Sales, Loss of Actos Patent Protection

FOR IMMEDIATE RELEASE
Los Angeles, California, United States of America (Free-Press-Release.com) January 21, 2012 -- Los Angeles, CA, January 20, 2012 – Takeda Pharmaceuticals, Japan’s largest pharmaceutical company and maker of popular Type 2 diabetes drug Actos, is expected to cut its global workforce by as much as 10% through 2015. According to a Chicago Tribune article, the move is intended to offset decreased sales caused by a slow economy and projected losses in revenue when generic forms of Actos are expected to hit the market later this year.

Takeda is expected to cut approximately 2,800 jobs, primarily in the U.S. and Europe, in an effort to save a net total of approximately 130 billion yen or $1.7 billion U.S. by March 31, 2016. The layoffs are expected to begin this month, with approximately 150 workers employed at its Deerfield, Illinois headquarters. Fifty of the employees expected to lose their jobs are employed in field-based sales positions while the remaining employees work as support staff. The company has said it will pay the workers through March 31, the end of Takeda’s 2011 fiscal year.

It remains unclear how significantly the loss of Actos’ patent protection will affect the company financially. Actos was reportedly one of the company’s biggest sellers, generating approximately $4.8 billion in revenue in 2010 alone.

The drug made headlines last year after the U.S. Food and Drug Administration issued an updated safety communication warning diabetes patients that taking Actos for a year or more could potentially elevate the risk of developing bladder cancer. In June 2011, health officials in France and Germany suspended the sale of the drug in those countries after concerns were raised about the potential bladder cancer link. Takeda currently faces a number of lawsuits in the U.S. filed by Actos users who say the drug caused them to develop bladder cancer and other serious side effects.

If you or a loved one was diagnosed with bladder cancer after taking Actos, you can complete a MedWatch form by visiting www.fda.gov. It is also recommended that you contact an experienced Actos bladder cancer attorney to discuss your legal rights.

Nadrich & Cohen LLP offers confidential, no-cost consultations to Actos users across the country who believe they were harmed by the drug. Help is available by calling the firm’s injury hotline at 1-800-722-0765 or by completing an online case evaluation form at www.sideeffectactos.com.

Nadrich & Cohen LLP is a national law firm with offices in Los Angeles, Sacramento, San Diego and other cities throughout California. The firm specializes in handling mass tort actions and representing individuals in cases involving pharmaceutical companies, medical device makers and other product manufacturers. The firm is committed to achieving the best outcome possible in every case and has recovered over $200 million in settlements on behalf of its clients.

In addition to handling Actos bladder cancer claims, Nadrich & Cohen, LLP investigates cases involving Accutane, Avanda, Pradaxa, Zoloft, DePuy ASR Hip Recall, Zimmer Hip Recall, Wright Conserve Hips, Vaginal Mesh, Yaz, Yasmin, Stevens-Johnson Syndrome, Benzene, Reflex Sympathy Dystrophy, Fen Phen and PPH, Depakote and Reglan.

The time you have to file an injury claim is limited, so it’s important to act as quickly as possible to protect your rights. Call 1-800-722-0765 today to speak with a qualified personal injury expert or visit www.personalinjurylawcal.com.

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Nadrich & Cohen LLP is a national law firm specializing in representing individuals who have been injured by defective medical devices, harmful prescription drugs, faulty products, car accidents, motorcycle accidents and dog bites.

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