The patent for the type 2 diabetes drug Actos (pioglitazone) expired in January 2011, but the drug’s maker, Takeda, made a deal with Ranbaxy Watson and Mylan not to market generic versions of the drug until August 2012. All other drug makers would have to wait until January 1, 2013 before they can introduce generic versions of the blockbuster drug.

Actos was approved by the Food and Drug Administration (FDA) to treat type 2 diabetes. The drug went head-to-head with top selling Avandia, which was approved the same year. Both drew in huge profits, but soon after both drugs’ luck began to wane because of reports of serious side effects.

First began complaints of serious cardiovascular events associated with Avandia. After careful review, the FDA ordered severe restrictions be placed on Avandia. Then came reports of bladder cancer linked to Actos. Months after the FDA severely restricted Avandia, federal drug regulators alerted the public about the cancer risk with Actos.

Both drugs face hundreds of lawsuits from people or their loved ones who say they were injured after taking the medications, and that the drug companies were aware their medication could cause serious side effects but did not adequately warn patients or their doctors of that risk.

Attorneys for Beasley Allen Law Firm are currently investigating cases of bladder cancer associated with Actos use.

Source: Healthcare Finance News

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5. Profits of diabetes drug Actos drop amid bladder cancer scare