Lilly responds to decision in case of Terrence Allen, et al. v. Takeda
Posted: 28 October 2014 | | No comments yet
Eli Lilly and Company LLY, -2.58% issued the following statement in response to a judge’s ruling that the punitive damages awarded in the case of Terrence Allen, et al. v. Takeda Pharmaceuticals North America, Inc., et al, No. 6:12-cv-00064 be reduced…
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Eli Lilly and Company LLY, -2.58% issued the following statement today in response to a judge’s ruling that the punitive damages awarded in the case of Terrence Allen, et al. v. Takeda Pharmaceuticals North America, Inc., et al, No. 6:12-cv-00064 be reduced. The judge in the Louisiana multidistrict litigation trial reduced the punitive damages from $3 billion for Lilly and $6 billion for Takeda to $9.2 million for Lilly and $27.6 million for Takeda.
Plaintiffs also were awarded $1.27 million in compensatory damages. The allocation of liability was 75 percent Takeda, 25 percent Lilly.
“While we have empathy for the plaintiff, we believe the evidence did not support his claims,” said Mike Harrington, senior vice president and general counsel, Lilly. “We will continue working vigorously to overturn the verdict.”
