MANASQUAN, N.J., April 16, 2015 /PRNewswire/ -- Fair Rate Funding, a leader in the lawsuit funding industry, is now offering lawsuit funding for victims involved in the Actos drug lawsuit. Takeda Pharmaceuticals recently extended a $2.2 million offer to settle claims which allege the company failed to warn patients of bladder cancer risks related to Actos, its diabetes drug. Takeda, located in Japan, is Asia's largest drug manufacturer. If finalized, it would be one of the largest settlements in the pharmaceutical industry in the history of the United States, reports Bloomberg News.
The type 2 diabetes drug is designed to help improve patients' blood glucose levels. It resulted in more than $16 billion in sales worldwide since hitting the market in 1999.
Terrence Allen, a former hardware-store manager from Attica, New York was awarded $9 billion in damages by a Louisiana federal jury after proving he developed bladder cancer after taking Actos for more than five years starting in 2006. A federal judge has since reduced the verdict to $36.8 million.
Since adverse effects have to come to light, the Food and Drug Administration (FDA) has monitored the drug's safety. As recently as 2010, it was determined Actos can increase the risk of bladder cancer after a patient uses it for more than a year. Although not ordered to be taken off the market, Actos now requires an on-box warning. Germany and France have banned the drug.
Claims against Takeda have increased for more than three years, including more than 8,000 federal and state lawsuits. Each case stands to collect more than $275,000 each if the settlement is approved.
Sources indicate the initial phase of the settlement could begin with Takeda paying one lump sum of $2.2 billion to patients who filed claims. Negotiations may remain open for other pending cases.
Actos Settlement Funding is a Lifeline for Actos Lawsuit Plaintiffs
Fair Rate Funding specializes in advancing cash now for plaintiffs who are involved in personal injury lawsuits. Sometimes referred to as settlement loans or lawsuit loans, settlement funding is NOT a loan transaction but a purchase of a portion of a future recovery. If the lawsuit is unsuccessful for any reason and no money is recovered, the lawsuit funding is not repaid.
Fair Rate Funding stands ready to assist Actos lawsuit plaintiffs with a lawsuit cash advance, if they have already retained an attorney. To learn more about obtaining settlement funding on your Actos lawsuit or pre-settlement funding on a car accident case, visit: http://professionalsettlementfunding.com/pharmaceutical-drug-cases/
"We are pleased to finally offer lawsuit funding for Actos victims," said Marjorie Ray, Head of Client Relations. "For too long, lawsuit funding was not an option for these individuals."
Fair Rate Funding works diligently to afford lawsuit funding to its applicants and has representatives standing by 24 hours a day, seven days a week to answer questions regarding the lawsuit funding process.
Fair Rate Funding's representatives are working around the clock to make sure each and every client gets the attention they need and to see them through to obtaining a cash advance. Fair Rate Funding is able to offer the lowest rates in the industry and makes the process as seamless as possible.
Fair Rate Funding lawsuit settlement funding programs are not a lawsuit loan or lawsuit loans although they are often referred to as such. A pre-settlement lawsuit cash advance is not a settlement loan or settlement loans because the advance is only repaid if the case is successful. Your attorney will repay your case funding or lawsuit advance ONLY if your case is won or settled.
Fair Rate Funding prides itself on providing the quickest approvals – as soon as 24 hours on most cases, the lowest monthly usage rates – as low as 2.5% per month, and the most attentive customer service in the lawsuit funding industry.
Fair Rate Funding also offers free case evaluations. If you are, at any time, not interested in pursuing lawsuit funding, there are no costs to you and absolutely no obligations.
For more information about lawsuit funding and other services from Fair Rate Funding, simply call a representatives at 888-964-2224 or visit us at http://fairratefunding.com.
SOURCE Fair Rate Funding